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Tuesday 13 September 2016

Korea - adds 387,000 jobs y/y in August: ARIRANG NEWS

Published on Sep 12, 2016
8월 취업자 38만7천명↑…경남•울산 실업률 치솟아
Korea's job market picked up speed in August.

Statistics Korea says the country added 387-thousand new jobs last month from a year ago,... bringing the total number of employed to 26-and-a-half million.

Last month's figure marks an improvement from July -- when the number of new jobs fell below the 300-thousand mark.

The ministry says the pick-up comes on the back of the base effect from increased employment in the wholesale and retail industries,... after they were hit hard by the MERS outbreak last year,... as well as improved job growth in the construction sector.

However, it isn't good news for everyone.

The youth jobless rate stood at nine-point-three percent last month,... marking the highest monthly figure for August since 1999.

The government's ongoing corporate restructuring drive is also taking a toll on regions where the country's shipbuilding industries are concentrated.

The jobless rate in Ulsan came to four percent,... while the figure in Gyeongsangnam-do province sat at three-point-seven percent.

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