South Korea’s Employment Growth Hits 7.5-Year High

Posted by African Examiner Asia, Featured, Latest Headlines Wednesday, October 13th, 2021

(AFRICAN EXAMINER) – South Korea’s employment growth has hit the highest in seven and a half years in September, indicating a labour market recovery from the COVID-19 pandemic, statistical office data showed on Wednesday.

The number of those employed totaled 27,683,000 in September, up 671,000 from a year earlier, according to data from Statistics Korea.

It marked the fastest increase in seven and a half years since March 2014, continuing to rise for the seventh straight month.

The year-over-year growth of jobs stayed above 500,000 for four months in a row.

The number of those unemployed stood at 756,000 in September, down 244,000 from a year earlier.

Unemployment rate declined 0.9 percentage points over the year to 2.7 per cent in September, recording the lowest September figure in eight years since 2013.

The number of economically inactive population, who had no willingness to seek a job and remained unemployed, came to 16,685,000 in September, down 132,000 from a year ago.

It kept falling for the seventh consecutive month.

(NAN)