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In October, the number of employed workers decreased by 421,000 … Eight months of COVID-19 labor shock
The National Statistics Office announces employment trends for October
1028,000 unemployed … Unemployment rate of 3.7%, the highest since 2000
Chung Dong-myeong, Director of the Office of Social Statistics of the National Statistics Office, presents the employment trends for October 2020 at the Sejong Government Complex on the morning of 11. / Newsis
The number of people employed decreased by more than 420,000 last month from the previous year due to cold work due to the aftermath of the new coronavirus infection (Corona 19). The number of employed persons has decreased for eight months since March this year, when the labor shock caused by Corona 19 intensified, and the fall was the largest in six months since April (-476,000 people).
In mid-August, the reinforcement of social distancing caused by the reproliferation of Corona 19 was directly impacted by the hotel and restaurant business and the travel industry, and it is analyzed that the number of employed persons decreased in the export-oriented manufacturing industry .
According to the ‘October employment trend’ published by the National Statistics Office on the 11th, the number of people employed last month was 27088,000, 421,000 less than in the same period last year. The decrease in the number of employed persons began in March (-195,000), reached its peak in April (-476,000), followed by May (-392,000), June (-352,000), It decreased until July (-277,000 people) and August (-274,000 people), then rebounded again in September (-392,000 people) and continued for eight consecutive months. The period of decline in the number of employees was the longest after the eighth consecutive month of decline from January to August 2009, just after the global financial crisis.
“The decline in the manufacturing industry has increased,” said Chung Dong-wook, head of the Employment Trends Division at the Bureau of Statistics. “However, due to the adjustment of social distancing to the first stage, the decline in educational services and wholesale and retail has slowed.
By type of business, lodging and restaurant (-227,000 people), wholesale and retail trade (-188,000 people), educational service (-103,000 people) and manufacturing (-98,000 people) were in order. In particular, in the case of manufacturing, the number of jobs in car trailers and metal processing, which has a large share in exports, decreased significantly from the previous month (-68,000). This appears to be the effect of the October export decline again after a month. Exports in October fell 3.6% compared to the previous year.
The hotel and catering businesses, which were directly affected by social distancing, remained at the same level as in September (-225,000 people) compared to the previous year due to the relaxation of social distancing. The decline in the educational services industry, which focuses on academia, and wholesale / retail businesses also slowed compared to the previous month.
On the other hand, depending on the influence of government projects to support employment, etc., the public administration, national defense and the social security administration (123,000 people), the health and social welfare services industry (105,000 people), business facility management and project support services industry (62,000 people) People), etc., increased the number of employed. By age, the number of employed persons aged 60 and over increased by 375,000, in the 30s (-240,000), in the 20s (-210,000), in the 40s (-192,000) and in the 50s (-114,000). All diminished.
By job, the number of salaried workers decreased by 306,000 and the number of non-salaried workers decreased by 115,000. Among salaried workers, the number of permanent workers increased by 14,000, but temporary workers (-261,000 people) and day laborers (-59,000) decreased. Among non-salaried workers, the number of self-employed with salaried employees decreased by 168,000 and the number of unpaid family workers decreased by 37,000 respectively, while the number of self-employed without employees increased by 90,000. According to statistics, the number of ‘temporary casualties’ classified as employed was 497,000, an increase of 190,000 compared to the same month the previous year.
The number of unemployed was 1,028,000, an increase of 164,000 over the same period last year. The number of unemployed registered 1 million in September, and the number of unemployed in the second month is around one million. The unemployment rate was 3.7%, 0.7 percentage points more than a year ago, reaching the highest level in 20 years since October 2000 (3.7%). The number of inactive population was 16,736,000, an increase of 508,000 from a year ago, and among the inactive population, the number of people classified as “rested” was 2,359,000.
The number of people who gave up the job search increased from 112,000 to 617,000 and the employment subsidy index 3 (expanded unemployment rate), which shows the perceived unemployment rate, was 13.2%, 2.6 percentage points more than a year ago. The youth employment subsidy index 3 rose 3.9 percentage points to 24.4%.
