No. of people employed in S. Korea down 392,000 on-year in May amid COVID-19 outbreak
- 4 years ago
'코로나 고용쇼크' 5월 취업자 39.2만명↓…석달 연속 감소
We start with more misery for jobseekers in South Korea.
Grim numbers as the country's unemployment rate reached its highest for the month of May since 1999.
The number of working people fell for a third month in a row last month as local firms were reluctant to hire and more people were laid off amid the coronavirus pandemic.
Eum Ji-young reports.
South Korea saw job losses for the third straight month in May due to the economic fallout from the coronavirus pandemic.
According to data released by Statistics Korea on Wednesday, the number of employed people was around 26-point-9 million,… down 392-thousand from the same month a year earlier.
This is the first time the figure has dropped for three months in a row since October 2009 and January 2010 in the aftermath of the global financial crisis.
The unemployment rate in May recorded 4-point-5 percent,... the highest for the month of May since records began in 1999.
The employment rate for people aged 15 to 64 decreased 1-point-3 percentage points on-year to 65-point-8 percent in May.
Out of all the age brackets between 15 and 64, only those in their 60s saw an increase in the employment rate.
People between the ages of 40 to 49 were hit hardest in May,... seeing the employment rate drop by one-point-seven percentage points on-year to 74-point-2 percent.
The losses were concentrated in business sectors that require face-to-face interaction, like hospitality.
Breaking it down by sector, the wholesale and retail sector saw 189-thousand job losses compared to last year, down 5-point-1 percent.
The restaurant and lodging sectors saw 183-thousand job losses,... down 7-point-9 percent on-year.
Finance Minister Hong Nam-ki said at a meeting with government officials on Wednesday that although the job market has been hit hard, the situation has improved when compared to the previous month.
He added that the third COVID-19-related supplementary budget should be approved in June in order to help boost the struggling employment situation.
Eum Ji-young, Arirang News.
We start with more misery for jobseekers in South Korea.
Grim numbers as the country's unemployment rate reached its highest for the month of May since 1999.
The number of working people fell for a third month in a row last month as local firms were reluctant to hire and more people were laid off amid the coronavirus pandemic.
Eum Ji-young reports.
South Korea saw job losses for the third straight month in May due to the economic fallout from the coronavirus pandemic.
According to data released by Statistics Korea on Wednesday, the number of employed people was around 26-point-9 million,… down 392-thousand from the same month a year earlier.
This is the first time the figure has dropped for three months in a row since October 2009 and January 2010 in the aftermath of the global financial crisis.
The unemployment rate in May recorded 4-point-5 percent,... the highest for the month of May since records began in 1999.
The employment rate for people aged 15 to 64 decreased 1-point-3 percentage points on-year to 65-point-8 percent in May.
Out of all the age brackets between 15 and 64, only those in their 60s saw an increase in the employment rate.
People between the ages of 40 to 49 were hit hardest in May,... seeing the employment rate drop by one-point-seven percentage points on-year to 74-point-2 percent.
The losses were concentrated in business sectors that require face-to-face interaction, like hospitality.
Breaking it down by sector, the wholesale and retail sector saw 189-thousand job losses compared to last year, down 5-point-1 percent.
The restaurant and lodging sectors saw 183-thousand job losses,... down 7-point-9 percent on-year.
Finance Minister Hong Nam-ki said at a meeting with government officials on Wednesday that although the job market has been hit hard, the situation has improved when compared to the previous month.
He added that the third COVID-19-related supplementary budget should be approved in June in order to help boost the struggling employment situation.
Eum Ji-young, Arirang News.