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Xinhua News Agency


  Home > Xinhua News Agency


Job growth in S.Korea hits 4.5-year low in August


 


 September 13th, 2017  |  11:29 AM  |   336 views

SEOUL

 

 

 Job growth in South Korea fell to the lowest in four and a half years last month, reflecting the still lackluster labor market, a government report showed Wednesday.

     The number of those employed was 26,740,000 in August, up 212,000 from the same month of last year, according to Statistics Korea. It marked the lowest increase since February 2013.

     The job increase stayed above 300,000 for six months through July, before falling below the level in August.

     Job creation in the wholesale and retail industry turned around, but the figures in the construction and real estate sectors turned sour as the government unveiled a set of measures to control speculative investment in the property market.

     The employment in the construction sector grew by 34,000 in August from a year earlier. The sector's growth stayed above 100,000 for six straight months through July.

     The job creation in the restaurant and science services sectors declined last month, contributing to the worsened labor market conditions.

     The number of those hired by manufacturers rose 25,000 last month, keeping an upward momentum for the third consecutive month.

     The self-employed fell by 3,000 in August, marking the first decline in a year. The statistical agency attributed the fall to a correction from the big increase in recent months.

     The hiring rate stood at 61.1 percent in August, up 0.1 percentage point from a year earlier.  Enditem

 


 

Source:
courtesy of XINHUA NEWS AGENCY

by Xinhua News Agency

 

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