Gov't to announce measures to create more jobs for youth in Q3

A student walks past a sign at an employment center at a university in Seoul, Thursday. Yonhap

Korea will come up with measures to create more jobs for young people in the third quarter amid challenges in the labor market caused by economic uncertainties, the finance ministry said Tuesday.

First Vice Finance Minister Lee Hyoung-il chaired a meeting on job creation with relevant ministries, sharing the consensus on the need to focus on vulnerable areas, including young people and the manufacturing sector.

The move came as Korea added 63,000 jobs in June from a year earlier, rebounding from a decrease of 40,000 in May, while the employment rate for people aged 15 to 29 fell 1.7 percentage points to 43.9 percent.

Jobs in the manufacturing sector declined from a year earlier for the 24th consecutive month in June.

"It is necessary to implement tailored measures for vulnerable areas, such as job creation for young people and the manufacturing sector, in order to maintain the upward trend reported in June amid prolonged uncertainties, including tensions in the Middle East," the finance ministry said.

The finance ministry added the government is currently preparing a comprehensive package of measures to revitalize the youth labor market, with a plan to announce it within the third quarter.

Korea will also release plans for the manufacturing sector through economy-related ministerial meetings, it added, vowing to utilize all available policy measures.