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The economic impact of the Corona 19 expansion led to the biggest drop in April employment in 21 years and 2 months. The non-economically active population increased by 831,000, the largest increase in history.
According to the “April Employment Trends” announced by the National Statistics Office on 13, the number of employees last month was 26,562,000, a decrease of 476,000 compared to the same month last year. This is the biggest decline since February 1999 (658,000 people), which was crazy after the financial crisis. Job damage is on the rise, more than double the March decrease (195,000).
By industry, the face-to-face service sector was severely affected. The lodging and restaurant industry decreased by 212,000 (9.2%), and the education and services industry decreased by 130,000 (6.9%). In the wholesale and retail industry, 123,000 (3.4%) fell, and the manufacturing industry also decreased by 44,000 (-1%). On the other hand, the health and social services services industry increased by 77,000 (3.5%), and the transportation and storage industry increased by 34,000 (2.4%).
By employment situation, the number of commercial workers, relatively stable jobs, increased by 400,000 (2.9%), while temporary workers decreased by 580,000 (12%), and daily jobs decreased by 195,000 (13.7%), which reduced drastically works in vulnerable groups. .
Although it belongs to the employer, the number of temporary graduates who take a short break due to unpaid leave, etc. It is 1,485,000, which has increased by 1.13 million since last year.
The employment rate for those over 15 years old was 59.4%, 1.4 percentage points less than last year, the lowest since 2010 (59.2%) in April. The international comparison standard, the employment rate for young people aged 15 to 64 was 65.1%, 1.4 percentage points less than last year. It is the lowest since 2013 (64.6%) until April.
Statistical office
Regarding the employment rate by age, it decreased in all age groups, except in those over 60 years of age. The employment rate (45%) of young people between 15 and 29 years decreased by 3.5 percentage points, while the 30 (77.6%) fell 1.4 percentage points. The 40 (78.7%) decreased -1.5% points and the 50 (76.3%) decreased 1.4% points. Over 60 years (43.4%) increased 0.2 percentage points. However, the growth rate slowed down compared to the previous month (0.8%).
The unemployment rate in April was 4.2%, 0.2 percentage points below the same month the previous year. As the corona19 crash caused the company to close or cut jobs and be reluctant to hire new people, the job market freezes, suggesting that the unemployed were not looking for work. As a result, the non-economically active population was 16,991,000, an increase of 831,000 from the same month last year. The increase was the largest since June 2000 when the statistical standard was modified.
The expanded unemployment rate (Employment Aid Indicator 3) that the National Statistical Office prepares for a more precise unemployment situation is 14.9%, the highest since the 2015 statistics. The Employment Aid Indicator 3 It includes unemployed people looking for work, and among the non-economically active population, “potential job seekers” and “potential job seekers”, and those who are willing to work more. The youth unemployment rate is also 26.6%, the highest since 2015 statistics were released.
The government held a green meeting by ministers from related ministries at the Seoul Metropolitan Government Building this morning, chaired by Deputy Prime Minister Hong Nam-ki and Minister of Strategy and Finance, to check on the status of employment. Participants judged that while the face-to-face service industry, where the Corona 19 impact was concentrated, became more difficult, the impact of the manufacturing industry was gradually visualized due to slow exports. In particular, he said he had to deal with the difficulties of the labor market, mainly for temporary, daily and self-employed workers who were influential.
The government plans to focus on “rapidly supplying more than 550,000 direct jobs” at the Central Economic Headquarters Meeting on 14 and 21 to support jobs for the vulnerable.
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