Korea adds 225,000 jobs in Nov.; youth employment falls again: data

Jobseekers wait in line to get interviewed by companies at a job fair held in Seoul, Nov. 20. Yonhap

Korea added more than 220,000 jobs in November, continuing an upward trend in employment this year, but youth employment declined, government data showed Wednesday.

The number of employed people stood at 29.05 million last month, up 225,000 from a year earlier, according to the data compiled by the Ministry of Data and Statistics.

The increase underscores a continued upward trend in employment throughout this year following a brief decline last December, when the country recorded a net loss of 52,000 jobs.

The labor market has shown steady recovery this year, adding 245,000 jobs in May before moderating to 183,000 in June and then jumping to 312,000 in September. In October, the country added 193,000 jobs.

However, employment in the manufacturing and construction sectors continued to fall, and youth employment posted its 19th consecutive month of on-year drop in November, indicating ongoing struggles for younger job seekers.

The manufacturing sector, considered the backbone of the Korean economy, shed 41,000 jobs from a year earlier, extending its downturn to a 17th consecutive month.

The construction industry posted a sharper on-year decline of 131,000 jobs, continuing its losing streak for the 19th straight month, while the agro-fisheries sector also lost 132,000 jobs.

Employment in the accommodation and food service sector fell by 22,000, marking the first decline in four months.

"The sector had seen improvement in employment thanks to the consumption coupon handouts aimed at helping with people's livelihoods, but their effects appear to be fading," said Gong Mi-sook, a ministry official.

Last month's overall job growth came from the health care and social welfare sector, which added 281,000 jobs. The arts and sports sector added 61,000 jobs.

By age, employment among those aged 60 and older surged by 333,000.

On the other hand, jobs for people aged between 15 and 29 sharply fell by 177,000, with the employment rate for the age group dropping 1.2 percentage points on-year to 44.3 percent.

This marked the 19th consecutive month of on-year decline in the employment rate for the youths.

The number of economically inactive people went down by 10,000 from a year earlier to 16.14 million as the number of people who reported parental leave contracted by 65,000.

But the number of people who reported being out of work simply to rest rose by 124,000, according to the ministry.

Notably, the number of people in their 30s who reported being out of work for rest climbed by 6,000 to 314,000, the highest level for any November.

The overall jobless rate stood at 2.2 percent in November, unchanged from a year earlier, while the number of unemployed people grew by 5,000 to 661,000.