No. of people employed in S. Korea up 259,000 y/y in May: Statistics Korea
- 5 years ago
Latest data show that South Korea's overall job situation seems to be improving... but the number of jobs in the manufacturing industry continues to fall.
Ko Roon-hee explains.
The latest report from the South Korean government shows new jobs are finally on the upswing.
According to Statistics Korea Wednesday, the total number of employed people in May was around 27-point-three million... up 259-thousand on-year.
The increase was under the 200-thousand mark for 12 consecutive months until January,... but the figure started to improve in February.
Last month's uptick was mainly due to more new jobs in the health and social work sectors,... which jumped by 124-thousand.
Analysts say, this comes after the government created more public sector jobs in the field.
Jobs in accommodation and the food service sectors also saw an increase of 60-thousand...thanks to more foreigners visiting South Korea.
The employment rate among people aged 15 to 64 marked 67-point-1 percent....marking the highest for the month of May since data was first compiled in 1989.
On a grimmer note..., the number of jobs continues to decline on-year in the manufacturing sector, considered South Korea's key growth engine.
The number of employed people fell more than 70-thousand on year...and it has been falling on-year since April last year.
Analysts point to falling exports, especially to China, as the reason for the decline.
Latest data by Korea Customs Service show outbound shipments to China dropped by more than 26-percent on year during the first 10 days of June.
This is also related to a decrease in the number of jobs for people in their 30s and 40s in May...and this raises a red flag... as many people in that age range are supposed to be actively engaged in economic activities.
To improve the country's sluggish manufacturing industry, analysts suggest diversifying South Korea's export destinations.
Ko Roon-hee, Arirang News.
Ko Roon-hee explains.
The latest report from the South Korean government shows new jobs are finally on the upswing.
According to Statistics Korea Wednesday, the total number of employed people in May was around 27-point-three million... up 259-thousand on-year.
The increase was under the 200-thousand mark for 12 consecutive months until January,... but the figure started to improve in February.
Last month's uptick was mainly due to more new jobs in the health and social work sectors,... which jumped by 124-thousand.
Analysts say, this comes after the government created more public sector jobs in the field.
Jobs in accommodation and the food service sectors also saw an increase of 60-thousand...thanks to more foreigners visiting South Korea.
The employment rate among people aged 15 to 64 marked 67-point-1 percent....marking the highest for the month of May since data was first compiled in 1989.
On a grimmer note..., the number of jobs continues to decline on-year in the manufacturing sector, considered South Korea's key growth engine.
The number of employed people fell more than 70-thousand on year...and it has been falling on-year since April last year.
Analysts point to falling exports, especially to China, as the reason for the decline.
Latest data by Korea Customs Service show outbound shipments to China dropped by more than 26-percent on year during the first 10 days of June.
This is also related to a decrease in the number of jobs for people in their 30s and 40s in May...and this raises a red flag... as many people in that age range are supposed to be actively engaged in economic activities.
To improve the country's sluggish manufacturing industry, analysts suggest diversifying South Korea's export destinations.
Ko Roon-hee, Arirang News.