Record-high employment rates mask sectoral challenges, currency pressures and opposition’s push for cash handout
South Korea’s employment rate for those 15 and above remained at record highs in June, while the unemployment rate stayed at the second-lowest level historically, according to data from the Ministry of Employment and Labor. The number of employed persons came to 28.91 million last month, up 96,000 from a year earlier, slightly expanding compared to the previous month.
The service sector saw employment growth and manufacturing continued to add jobs. However, the construction sector experienced a widening decline in employment, and the number of self-employed individuals continued to decrease. The government plans to boost domestic demand, implement targeted job measures for sectors with declining employment and closely monitor employment conditions by industry and class.
South Korea’s employment rate for those 15 and above remained at record highs in June, while the unemployment rate stayed at the second-lowest level historically, according to data from the Ministry of Employment and Labor. The number of employed persons came to 28.91 million last month, up 96,000 from a year earlier, slightly expanding compared to the previous month.
The service sector saw employment growth and manufacturing continued to add jobs. However, the construction sector experienced a widening decline in employment, and the number of self-employed individuals continued to decrease. The government plans to boost domestic demand, implement targeted job measures for sectors with declining employment and closely monitor employment conditions by industry and class.
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