Employment of Wage Workers in South Korea Increases at a Slow Pace in Q1 of 2023


On Friday, data revealed that the employment of wage workers in South Korea grew at a sluggish rate in the first quarter of 2023 due to an economic downturn. Out of the total of 457,000 new jobs created, two-thirds were for senior citizens.

Statistics Korea reported that the number of paid employee jobs totaled 20.21 million in the January-March period, which is the lowest increase since the fourth quarter of 2021.

For four quarters in a row, the country has seen a decrease in year-over-year employment growth starting from the second quarter of 2022.

The greatest increase in jobs was among those in their 60s or older, with 305,000 jobs added in the first quarter. Additionally, 141,000 jobs were added for those in their 50s, followed by 38,000 and 35,000 jobs for those in their 30s and 40s, respectively.

However, there was a decrease of 61,000 jobs for salaried workers in their 20s, the second consecutive year-over-year fall.

By sector, the construction sector added 92,000 jobs in the three-month period, and the health and social welfare segment added 87,000 jobs. The manufacturing sector also gained 54,000 more jobs in the first quarter.

This photo shows job seekers looking at employment information at a job fair in Seoul on Aug. 21, 2023. (Yonhap)


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