South Korea's labor market improves

Total employment in South Korea for people over 15 years old increased by 0.8 percent year-on-year to 29.046 million.

Mangshir 24, 2082

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South Korea's labor market improves

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Employment in South Korea has been steadily increasing. Experts attribute this growth to changes in population structure and increased opportunities for working-age people.

This reflects economic stability and the active participation of older people in society.

Total employment for those over 15 increased by 0.8 percent year-on-year to 29.46 million, of which only 333,000 jobs were added for those over 60, but 177,000 jobs were added for those aged 15-29 and 9,000 jobs were added for those in their 40s.

Health and social services, business management, sports and recreation increased by 281,000, 63,000 and 61,000 jobs, respectively, while construction and manufacturing increased by 131,000.

Although the number of regular and irregular employees increased, daily wage workers and the self-employed have decreased. The employment rate for the population over 15 increased by 0.2 percent to 63.4 percent, while the rate for the 15-64 age group increased by 70.2 percent according to the OECD methodology.

Although the unemployment rate remained stable at 2.2 percent, the number of unemployed people increased by 5,000 to 661,000. The economically inactive population has decreased slightly.

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