Daily Management Review

South Korea loses nearly 400,000 jobs because of pandemic


The number of jobs fell by 392,000 in South Korea in September compared to the same period in 2019. The number of citizens who are working amounted to 27.1 mln.

The rate of employment among citizens aged from 15 and 64 fell to 60.3% (by 1.2%), the National Statistical Office reported on Friday.

According to the office, the figure has been falling for seven months in a row. This is the longest fall since 2009, when South Korea fell victim of the global financial crisis’ effects.

The rate of unemployment among the population of working-age was 3.6% in September: an 0.5% increase compared to the same period in the last year. At that, the rate of unemployment among people aged less than 30 grew by 1.6%, to 8.9%.

Statistics shows that the pandemic in the country has dealt a particularly hard blow to temporary employed; their number fell by 303,000 in September. The total number of those unemployed hit 1 million, which is 116,000 more than in 2019.

source: reuters.com