2024-06-13 18:11:09
Final month, the employment charge for these aged 15 to 64 exceeded 70% for the primary time in historical past, however the improve was primarily because of the aged and short-term jobs, whereas the variety of younger folks employed decreased.
In line with the Statistics Korea Nationwide Statistics Portal (KOSIS) and employment developments in Could on the thirteenth, the variety of employed folks final month was 28,915,000, a rise of 80,000 in comparison with the identical month final 12 months. The month-to-month variety of employed folks has maintained a rise for 39 consecutive months since March 2021, however the charge of improve was the bottom since February 2021 (-490,000 folks).
Though the rise within the variety of employed folks has decreased considerably, what the federal government emphasised was the employment charge. Final month, the employment charge for these aged 15 to 64 exceeded 70% for the primary time in historical past, reaching 70.0%, a rise of 0.1 share factors (p) in comparison with the identical month final 12 months.
Nonetheless, for those who have a look at the main points, it seems that the variety of ‘full-time’ staff has decreased and the variety of ‘part-time’ staff has elevated considerably. The variety of folks between 1 and 17 hours was 2,709,000, a rise of 535,000 in comparison with the identical month final 12 months. That is the very best determine as of Could since statistics have been compiled in 1982.
Alternatively, the 36-44 hour and 45-53 hour sections considerably decreased by 6.286 million and 1.976 million, respectively, to 7.21 million and three.665 million.
The largest cause for the rise within the variety of employed folks in areas with extraordinarily brief working hours and the sharp decline in these in lengthy working hours is the ‘time of the survey’. Employment pattern surveys are often performed throughout every week that features the fifteenth, however because the fifteenth of final month was a public vacation (Shark’s Birthday), the calculated working hours decreased considerably.
Nonetheless, there may be additionally a pattern of accelerating short-time staff and lowering long-time staff. As of April, in comparison with April 2019, 5 years in the past, the variety of folks employed within the 1 to 17 hour interval elevated by 507,000 from 1.781 million to 2.288 million. Alternatively, the variety of folks between 45 and 53 hours decreased by 862,000 from 6.373 million to five.511 million.
The lower in working hours in Korea, which is nicely above the Group for Financial Co-operation and Improvement (OECD) common, is welcome, however quite the opposite, it may be interpreted as a lower within the variety of high-quality common jobs.
In truth, the variety of short-term staff final month was 4.93 million, a rise of 249,000 in comparison with the identical month final 12 months. By way of improve, it was the most important in two years and three months since February 2022 (342,000 folks).
Alternatively, the variety of common staff was 16,385,000, a rise of solely 75,000 in comparison with the identical month final 12 months. The rise was the bottom since January 2021 (36,000 folks) in the course of the COVID-19 pandemic.
An official from the Ministry of Technique and Finance stated, “There was a rise in part-time employment amongst girls who’re balancing work and household, and it appears to have had a structural impact that older folks additionally work part-time somewhat than full-time.” He added, “There are fairly a number of individuals who work part-time as a result of they wish to.” “I do know it’s rising,” he defined.
As growing older has intensified, the variety of older folks employed has elevated and the variety of younger folks employed has decreased.
Final month, the variety of employed youth aged 15 to 29 decreased by 173,000 in comparison with the identical month final 12 months. This additionally was the very best decline since January 2021 (-314,000 folks), which was the interval of the pandemic. Beginning in November 2022, the decline continued for 1 12 months and seven months in a row. The variety of employed folks of their 40s additionally decreased by 114,000, lowering for 1 12 months and 11 months in a row.
The age group with the most important improve within the variety of employed folks was these of their 60s or older. The variety of employed folks of their 60s or older elevated by 265,000 in comparison with the identical interval final 12 months.
An official from the Ministry of Technique and Finance stated, “The inhabitants of younger folks and people of their 40s has decreased considerably, and the variety of employed folks can also be lowering, whereas the inhabitants of individuals of their 50s and 60s and older is rising, and the variety of employed folks is rising.”
(Sejong = Information 1)
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2024-06-13 18:11:09