{"id":2206240,"date":"2024-08-22T08:00:54","date_gmt":"2024-08-21T23:00:54","guid":{"rendered":"https:\/\/koreapro.org\/?p=2206240"},"modified":"2024-08-21T17:24:11","modified_gmt":"2024-08-21T08:24:11","slug":"south-koreas-job-numbers-grew-in-first-quarter-but-covid-19-surge-casts-shadow","status":"publish","type":"post","link":"https:\/\/koreapro.org\/2024\/08\/south-koreas-job-numbers-grew-in-first-quarter-but-covid-19-surge-casts-shadow\/","title":{"rendered":"South Korea\u2019s job numbers grew in first quarter but COVID-19 surge casts shadow"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">South Korea\u2019s wage worker jobs increased by 314,000 in Q1 2024 compared to the same period last year, bringing the total to about 20.5 million, according to <\/span><a href=\"https:\/\/kostat.go.kr\/board.es?mid=a10301010000&amp;bid=11113&amp;list_no=432313&amp;act=view&amp;mainXml=Y\"><span style=\"font-weight: 400;\">Statistics Korea<\/span><\/a><span style=\"font-weight: 400;\">. The health and social welfare sectors led the growth, adding 139,000 jobs, followed by gains in transportation, warehousing and accommodation services. Manufacturing also saw notable increases in shipbuilding, automotive parts and aerospace industries.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The data highlights a significant rise in jobs for workers aged 60 and above, while employment for those under 30 and in their 40s declined. Gender-wise, female employment outpaced male employment, with increases of 249,000 and 65,000 jobs, respectively. Job growth was observed across all types of organizations, with corporate entities leading the way.<\/span><\/p>\n<p><b>WHY IT MATTERS<\/b><\/p>\n<p><span style=\"font-weight: 400;\">The increase in health and social welfare jobs reflects South Korea\u2019s <\/span><a href=\"https:\/\/koreapro.org\/2023\/03\/south-koreas-elderly-population-to-break-10-million-in-2024\/\"><span style=\"font-weight: 400;\">aging population<\/span><\/a><span style=\"font-weight: 400;\">. While manufacturing has also seen job increases, this trend may change as <\/span><a href=\"https:\/\/koreapro.org\/2024\/08\/south-koreas-covid-surge-unveils-cracks-in-pandemic-defenses\/\"><span style=\"font-weight: 400;\">COVID-19 cases surge<\/span><\/a><span style=\"font-weight: 400;\">. While the health sector may temporarily benefit from increased demand for workers, other sectors, including manufacturing, could face disruptions if a growing number of people have to self-isolate at home.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The pandemic\u2019s resurgence could also exacerbate the challenges for younger workers, who are already seeing job declines. Renewed social distancing measures may slow production in manufacturing and lead to setbacks for accommodation and food service sectors. This could result in layoffs or reduced hiring, further deepening the demographic imbalance, especially as large conglomerates appear to <\/span><a href=\"https:\/\/koreapro.org\/2024\/08\/aging-workforce-threatens-to-dull-south-korean-conglomerates-competitive-edge\/\"><span style=\"font-weight: 400;\">favor hiring older workers<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Job growth has been one of the Yoon administration\u2019s most <\/span><a href=\"https:\/\/koreapro.org\/2024\/07\/south-koreas-economic-optimism-masks-growing-risks-and-vulnerabilities\/\"><span style=\"font-weight: 400;\">publicized achievements<\/span><\/a><span style=\"font-weight: 400;\">. Job cuts and built-in <\/span><a href=\"https:\/\/koreapro.org\/2024\/07\/south-koreas-job-market-shines-but-economic-storm-brews\/\"><span style=\"font-weight: 400;\">weakening business sentiments<\/span><\/a><span style=\"font-weight: 400;\"> may cause President Yoon Suk-yeol and the ruling People Power Party to lose even more <\/span><a href=\"https:\/\/www.gallup.co.kr\/gallupdb\/reportContent.asp?seqNo=1502\"><span style=\"font-weight: 400;\">public support<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<div class=\"content-tags\"><a href=\"https:\/\/koreapro.org\/tag\/business-economy\/\"><span class=\"tag\">Business &amp; Economy<\/span><\/a><a href=\"https:\/\/koreapro.org\/tag\/culture-society\/\"><span class=\"tag\">Culture &amp; Society<\/span><\/a><a href=\"https:\/\/koreapro.org\/tag\/domestic-politics\/\"><span class=\"tag\">Domestic Politics<\/span><\/a><\/div>","protected":false},"excerpt":{"rendered":"<p>South Korea\u2019s wage worker jobs increased by 314,000 in Q1 2024 compared to the same period last year, bringing the total to about 20.5 million, according to Statistics Korea. The health and social welfare sectors led the growth, adding 139,000 jobs, followed by gains in transportation, warehousing and accommodation services. Manufacturing also saw notable increases [&hellip;]<\/p>\n","protected":false},"author":10407,"featured_media":2206241,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[30],"tags":[24,25,27],"class_list":["post-2206240","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-briefings","tag-business-economy","tag-culture-society","tag-domestic-politics"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>South Korea\u2019s job numbers grew in first quarter but COVID-19 surge casts shadow - KOREA PRO<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/koreapro.org\/2024\/08\/south-koreas-job-numbers-grew-in-first-quarter-but-covid-19-surge-casts-shadow\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"South Korea\u2019s job numbers grew in first quarter but COVID-19 surge casts shadow - KOREA PRO\" \/>\n<meta property=\"og:description\" content=\"South Korea\u2019s wage worker jobs increased by 314,000 in Q1 2024 compared to the same period last year, bringing the total to about 20.5 million, according to Statistics Korea. The health and social welfare sectors led the growth, adding 139,000 jobs, followed by gains in transportation, warehousing and accommodation services. 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