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🇰🇷 South Korea /Economy & Trade

[Breaking] August employment rises by 184,000, while youth employment rate falls for 28th straight month

From Hankyoreh · () Korean

Translated from Korean and summarized by DistantNews. Read the original for the full story.

At a glance

News Official statement Context piece
  • South Korea recorded 29.151 million people aged 15 and older in employment in August, up 184,000 from a year earlier and the biggest increase in five months.
  • Employment grew in health and social welfare services but fell in agriculture, accommodation and food services, and manufacturing.
  • The overall employment rate held at 63.3%, while the youth employment rate fell to 44.1%, marking its 28th consecutive monthly decline.

South Korea added 184,000 jobs in August, bringing employment among people aged 15 and older to 29.151 million. It marked the strongest increase in five months, since employment rose by 206,000 in March.

The gains came mainly from health and social welfare services, which added 185,000 workers. Employment declined in agriculture and forestry, down 199,000, accommodation and food services, down 61,000, and manufacturing, down 38,000.

The employment rate for people aged 15 and older remained unchanged from July at 63.3%. It had declined for four consecutive months since April.

Youth employment remained under pressure. The number of employed people aged 15 to 29 fell by 143,000 from a year earlier, extending the decline to 46 consecutive months. The youth employment rate dropped one percentage point to 44.1%, its 28th straight monthly fall.

The number of unemployed people stood at 588,000, down 4,000 from a year earlier. The unemployment rate remained unchanged at 2.0%.

About this summary

Originally published by Hankyoreh in Korean. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

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