281,000 jobs created in South Korea in June: Korea statistics

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There are signs of improvement in South Korea's labor market, with the number of new hires having reached their highest level in 17 months in June.
However, further badysis of the report shows that not all are good news.
Ko Roon-hee has the details.
The latest report of the South Korean government shows that the number of new jobs continues to increase.
According to Statistics Korea on Wednesday, the number of people employed in South Korea was about 27 points 4 million in June, … up 281,000 over one year.
The increase has exceeded the 200,000 mark for a period of two consecutive months … and is the largest increase since January 2018.
The increase last month was mainly due to the creation of new jobs in the health and social work sectors, which jumped 125,000 people.
Analysts say this comes after the government has created more jobs in the public sector in these areas.
The employment rate for 15 to 64 year olds was 67 points out of 2 per cent …, the highest for June since the first compilation of data in 1989.
On a darker note …, the overall unemployment rate climbed to four percent, up from last year's three-point-seven-percent figure.
The number of unemployed has risen to about one point 14 million, which is the highest for the month of June since 1999.
Statistics Korea explained that the increase in employment and unemployment rates was one of the reasons explaining the increase in the number of people looking for a job because of more and more people were created.
Analysts are also worried about the decline in the number of jobs created by people aged 30 to 40, who are supposed to be active in economic activities.
On the contrary, the number of people aged 60 and over continues to increase this month by 372,000 … which has contributed the most to the total number of new jobs.
By breaking down by sector, the number of jobs in the manufacturing sector continued to decline compared to the previous year, when jobs are generally of high quality.
The number of people employed in this sector has dropped by 66,000 … and this number has been decreasing since last April.
An economic expert explained that manufacturing is an important part of the overall situation.
"South Korea's overall exports are down, including in the semiconductor sector, and some badysts have predicted that the country's economic growth rate will be below 2% this year." The general economic slowdown appears to be linked to the slowdown in the manufacturing sector. "
Experts believe that the South Korean government's efforts to stimulate the economy, for example through deregulation, are essential to achieving a significant improvement in the labor market.
Ko Roon-hee, Arirang News.

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