By Yoon Ja-young
Staff Reporter
Seoul posted an unemployment rate of 4.8 percent as of July, marking the highest rate in the country. Other big manufacturing and service centers like Busan, Incheon and Ulsan also had high jobless rates, reflecting the tight job market that is showing no sign of improvement despite the ongoing economic recovery.
According to the National Statistical Office (NSO), the capital city, where one-fifth of the population resides, had an unemployment rate 1.1 percentage points higher last month than the country's average of 3.7 percent.
Job conditions in Busan were also negative, with the unemployment rate there standing at 4.6 percent. Incheon and Ulsan, major manufacturing powerhouses in the country, both marked a 4.5-percent jobless rate, followed by Daejeon, Daegu and Gyeonggi Province, which surrounds the capital city.
The Ministry of Strategy and Finance said that the domestic economy incorporating manufacturing and services has not recovered yet. Hence, employment in large cities such as Seoul that depend on these industries is still in bad shape, according to the ministry.
Meanwhile, the job market in rural areas was in better shape. South Jeolla Province, a typical farming area, posted an unemployment rate of 1.4 percent last month, the lowest in the country. Jeju, North Chungcheong and North Jeolla provinces also had jobless rates below 2 percent.
The jobless rate for the country rose by 0.6 percentage points from a year ago. Ulsan had the steepest rise, with the rate soaring by 1.5 percentage points.
However, Seoul is still regarded as a city with a lot of career opportunities. The concentration of the population in Seoul and its vicinity has been increasing, as people believe it offers a better quality of life.
Recent statistics from the Hyundai Research Institute showed that Seoulites recorded the highest economic happiness index of 45.7, followed by Gyeonggi Province's 45.6 and Daejeon's 45.4.