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Biz News Korea(Eng)
Korea’s Jan manufacturing jobs in biggest fall in nearly 8 years
- Collected
- 2017.02.15
- Distributed
- 2017.02.20
- Source
- Go Direct
이미지 확대According to January employment data released by the Statistics Korea on Wednesday, the number of employed stood at 25,689,000, up 243,000 from the same month last year. The year-on-year addition is the smallest since February last year.
Restructuring and slowdown in the shipbuilding industry delivered a heavy blow to the manufacturing sector and brought down the number of employed in the sector by 160,000. It was the largest year-on-year decrease since July 2009.
The employment rate in January gained 0.1 percentage point from the same period of last year to 58.9 percent.
The employment rate among the age group of 15 to 64, a measurement under the guideline of the Organization for Economic Cooperation and Development came to 65.5 percent in January, up 0.3 percentage point from the same month last year. The employment rate among the age group of 15 to 29 rose 0.1 percentage point to 41.8 percent.
The overall jobless rate in January was up 0.1 percentage point on year at 3.8 percent, the highest since April 2016. The number of unemployed reached 1.0 million, a monthly high for January since 2010.
The unemployment rate of the youth slipped 0.9 percentage point on year to 8.6 percent. But when reflecting those preparing for or between jobs, the rate would hit 11.6 percent.
Jobs in the manufacturing will likely continue as result of restructuring, said Bin Hyun-joon, head of Employment Statistics Division at the statistics office.
By Kim Gyu-sik
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]