The number of workers employed in January decreased by 980,000 compared to the previous year … the biggest unemployment crisis since the IMF period (total)

Enter 2021.02.10 08:00

1.57 million unemployed, the highest in history … 5.7% unemployment rate
The number of employees in the service industry alone decreased by 367,000
The increase in the number of employed persons aged 60 and over stops due to the end of public works

In the wake of the new coronavirus infection (Corona 19), the number of people employed decreased by 982,000 in January. This is the largest decrease in the number of people employed since the related statistics were prepared. This is the biggest labor unrest since the fall of 1,283,000 people in December 1998, when the IMF (International Monetary Fund) was hit by the currency crisis. The number of unemployed is the highest since June 1999, when the National Statistical Office began preparing related statistics.

According to the January employment trend published by the National Statistics Office, the number of employees was 26,818,000, 982,000 less than in the same month last year. The employment rate for people aged 15 to 64, which is based on the OECD comparison, was 64.3%, 2.4 percentage points less than in the same month last year. The employment rate between the ages of 15 and 64 decreased in all age groups, including those in their 20s, 30s, 40s and 50s.

The number of unemployed in January of this year was 1.57 million, an increase of 417,000 (36.2%) compared to the same month last year. This is the highest since the National Statistical Office began preparing statistics in June 1999. The unemployment rate was 5.7%, 1.6 percentage points more than in the same month last year. The employment impact is lingering as the number of employees continues to decline after the spread of Corona 19.

The number of employees has decreased at all ages. The number of employed persons aged 60 and over, which increased every month due to the end of the public employment program, decreased by 15,000. It decreased by 273,000 people in their 30s, 255,000 people in their 20s, 210,000 people in their 40s and 170,000 people in their 50s. By sex, the number of employed men was 14,939,000, a decrease of 385,000 (2.5%) compared to the same month of the previous year, and the number of women decreased by 597,000 (5.2%) to 10,879,000.

The hospitality and restaurant industries, which are industries affected by the social distancing caused by the COVID-19 quarantine, decreased 367,000 (15.7%) compared to the same period last year. The number of employed persons in wholesale and retail stores decreased (-218,000 people · -6.1%), associations and entities, repairs and other personal services businesses (-103,000 people · -8.5%). By occupation groups, the number of service workers decreased significantly with 375,000 (-11.7%), and of salespeople (-210,000 people, -7.0%), experts and related (-171,000 people, -3.1 %), etc.

During this period, the inactive population was 17.8 million. The inactive population is a person who is neither employed nor unemployed among the population aged 15 and over. Those who are not engaged in economic activities or take an unintentional break from economic activities are typical, such as full-time housewives, seniors, job applicants, college students, and job applicants.

Regarding the inactive population by sector, it increased from households (428,000, 7.2%) and the rest (379,000, 16.2%), 867,000 more than in the same month last year. The number of people who gave up the job search was 775,000, an increase of 233,000 over the same month last year.

When observing the increase and decrease with respect to the same month of the previous year by employment situation, the number of permanent workers among salaried employees increased by 36,000 (0.2%), but the number of temporary workers was 563,000 (-12, 7%), and the number of day laborers was 232,000 (- 17.0%), respectively, decreased. The proportion of full-time workers among total employees was 56.6%, 2.2 percentage points more than in the same month last year. This is because the number of temporary and daily workers has decreased.

Among non-salaried workers, the number of self-employed without salaried workers increased by 32,000 (0.8%), but the number of self-employed with salaried workers decreased by 158,000 (10.9%). It is interpreted as a reduction in the number of employees employed by freelancers who suffer from management difficulties due to Corona 19 and run a business alone.

By hours of work, the number of employed persons over 36 hours was 19,539,000, a decrease of 1,589,000 (-7.5%), but the number of employed persons under 36 hours increased by 262,000 (5.1%) to 5,387 .000. The average working hours per week was 38.6 hours, 1.8 hours less than in the same month last year. It can be interpreted that stable jobs with relatively long working hours decreased and short-term jobs increased.