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Employed for 9 consecutive months ↓… Longest decline since 1999
The decline of the manufacturing industry is great … The largest number of employees in their 20s and 30s decreased
Students and job applicants who visited the 2020 Public Institution Recruitment Information Fair held at the aT Center in Seocho-gu, Seoul, are looking at the recruitment bulletin board. 2020.1.8 / Reporter Huh Moon-chan [email protected]
As the shock to the job market caused by the new coronavirus infection (Corona 19) continues, the number of employees has declined for the longest consecutive period since the International Monetary Fund (IMF) economic crisis.
In October, when the first phase of easing social distancing came into effect with a time lag, the decrease in the number of employed workers in November was reduced compared to the previous month. However, it is feared that the indicator will worsen as the aftermath of the third pandemic of the crown 19 after December is reflected.
The number of employees decreases for 9 consecutive months … The longest decrease since 1999
According to the ‘November employment trend’ published by the National Statistics Office on the 16th, the number of people employed last month was 27,241,000, 273,000 less than a year ago.
The number of employees is March (-195,000), April (-476,000), May (-392,000), June (-352,000), July (-277,000) People), August (-274,000 people), September (-392,000 people) and October (-421,000 people), followed by a decline for the ninth consecutive month.
It is the longest period from the sixteenth consecutive month from January 1998 to April 1999, immediately after the financial crisis of the International Monetary Fund (IMF).
The decrease in the number of employed workers in November was less than in October. In terms of the number of seasonally adjusted employees, 167,000 people increased compared to the previous month, showing an increase for two consecutive months.
Chung Dong-myeong, head of the Korea Social Statistics Bureau, said: “The decline in the number of people employed fell somewhat in November, mainly in the face-to-face services industry, due to the adjustment of the first phase of distancing away on October 12. ” , Health and wellness, and the construction industry have expanded, ”he explained.
The decline of the manufacturing industry is great … The largest number of employees in their 20s and 30s decreased
Since the end of September, the decline in the face-to-face services industry has slowed due to the slight relaxation of Corona 19. In November, the accommodation and catering business decreased by 161,000 and the wholesale and retail business decreased by 166,000. The decrease narrowed from 227,000 and 188,000 in October, respectively.
Public administration, national defense and social security administration (152,000 people), health and social welfare services (114,000 people) and the construction industry (77,000 people) increased. On the other hand, the manufacturing industry experienced a greater drop in November (-113,000) than in October (-98,000). The decline was the largest since February 2019 (-158,000 people).
Although exports have improved, the impact of Corona 19 continues in industries such as car trailers.
Temporary workers (-162,000) and day laborers (-44,000) decreased. The decline was less than the previous month. The increase in permanent workers increased (38,000).
By age, 15-29 years (-243,000 people), 30s (-194,000 people), 40s (-135,000 people), 50s, except that 372,000 people increased from 60 years or more (-74,000 people) The number of employed has decreased in all age groups.
Statistically, the number of temporary graduates classified as employees increased by 189,000.
3.4% unemployment rate, the highest from 2004 to November
The employment rate over 15 years was 60.7%, 1.0 percentage point less than a year ago. As of November, it is the lowest since November 2013 (60.7%). The employment rate for young people aged 15 to 29 fell 1.9 percentage points to 42.4%. The employment rate for people aged 15 to 64, which is the Organization for Economic Cooperation and Development (OECD) benchmark, was 66.3%, 1.1 percentage points less than the previous year .
The number of unemployed was 967,000, an increase of 101,000 over the previous year. The unemployment rate was 3.4%, 0.3 percentage points more than a year ago. As of November, it is the highest since November 2004 (3.5%). The unemployment rate for young people aged 15 to 29 increased 1.1 percentage points to 8.1%.
The number of inactive economically active population increased from 431,000 to 1,667 million. Among the inactive population, 2,353,000 people were classified as “rested.” It is the largest since 2003, when statistical standards were changed. The number of job seekers dropped from 144,000 to 631,000.
“The aftermath of the 3rd corona epidemic, possibility of appearing in December and next January”
In November, the number of employed persons continued to decrease for the ninth month, but the decrease was reduced compared to September and October, and the employment situation improved somewhat. However, as the reproliferation of Corona 19 continues in November and the distancing stage has increased, the possibility that the employment indicator will deteriorate after December has increased.
Vice Premier Hong Nam-ki and the Minister of Strategy and Finance said: “The impact on employment in September and October due to the second differential in August showed a tendency to improve again in November, but the impact on employment due to the third differential in November will be in December and next year. I am very concerned about the possibility of appearing in it. “
Director Jeong Dong-myeong added, “In December, the employment survey will be conducted from the 13th to the 19th,” he added. “We hope that (the indicators) do not improve much due to various variables, such as the 2.5-stage increase in the distance to the metropolitan area.
Journalist Jo Ara [email protected]
