For the second month in a row, South Korea’s employment rate grew in September, according to Statistics Korea data released Friday. The total number of employed people rose to 28.69 million, an increase of 1.1 percent from the year prior. This marks the first time in three months that the country has added more than 300,000 jobs.
The employment rate of those aged 15 and over rose 0.5 percentage points to 63.2 percent, the highest for any September since 1982. The unemployment rate was 2.3 percent, the lowest ever recorded.
This file photo shows a jobseeker looking at a bulletin at a job fair in Seoul on Sept. 19, 2023. (Yonhap)
The greatest increase in hiring was among those aged 60 and over, with 354,000 new positions. There were also 56,000 new jobs for those in their 30s and 45,000 for those in their 50s.
However, the number of positions for those aged 15-29 dropped 89,000, the 11th consecutive fall.
The manufacturing sector saw the most significant decrease, with 72,000 jobs lost in September, the largest figure since April. This marks the ninth consecutive month of job loss in the sector, as production and exports remain weak due to economic slowdown.
On the other hand, the welfare and social service segment added 118,000 new jobs, the science and technology service sector increased by 67,000 new jobs, and 66,000 jobs were added in the accommodation and restaurant sector.
However, the number of jobs in the wholesale and retail sector fell 17,000, and the real estate sector lost 36,000 jobs.
“The fall in jobs in the manufacturing sector is partly attributable to a high base effect,” an agency official said. “The auto and health care sectors added more jobs, offsetting the fall in the electronics components and chemicals sectors.”