Input 2020.12.16 10:21 | Revision 2020.12.16 10:59
Increase in regular jobs, below the level immediately after the financial crisis
Manufacturing jobs in November declined the most in 20 months since February 2019 (151,000 people). For the first time since March this year, when the novel coronavirus infection (Corona 19) began to affect employment, the decline in manufacturing jobs exceeded 100,000. The manufacturing industry, which has supported the Korean economy, following the wholesale, retail and lodging restaurants, which were directly damaged by social distancing, was hit by a direct hit from the COVID-19 outbreak.
According to the’November Employment Trend’ released by the National Statistical Office on the 16th, the number of employed last month was 27,241,000, down 273,000 from the same period last year. The number of employed has declined for nine consecutive months. The International Monetary Fund (IMF) has been declining for 16 consecutive months from January 1998 to April 1999, when the currency crisis occurred, and has shown the longest decline in 21 years.
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Chung Dong-myeong, director of the Social Statistics Bureau of Statistics Korea, said, “The sluggishness of employment in the manufacturing industry in November was the impact of the continued Corona 19 seen in the automobile and trailer manufacturing industries and the manufacturing of metalworking products.” “The decline of the youth, including those in their 20s and 30s, has also increased,” he analyzed.
During this period, employment difficulties in the service industry continued. In November, the number of employed in the lodging/restaurant business decreased by 161,000 (7%) from a year ago, and the wholesale and retail business decreased by 166,000 (4.6%). On the other hand, in the public administration, defense, and social security administration sectors, and the health and social welfare service sectors, which have many government-funded jobs, the number of employed increased by 152,000 (13.6%) and 114,000 (5%), respectively.
Looking at wage workers by job status, the increase in regular workers was 38,000 (0.3%) last month, slightly better than the previous 14,000 in October. Regular workers are relatively high-quality jobs, and usually show a stable increase when the economy grows normally. However, due to the re-proliferation of Corona 19, reinstatement of temporary leavers was delayed and new hiring was sluggish, resulting in sluggish regular employment.
During the same period, the number of temporary workers decreased by 162,000 (3.3%) and the number of daily workers decreased by 44,000 (3.0%). Among non-wage workers, the number of self-employed without employees increased by 55,000 (1.3%), but the number of self-employed with employees decreased by 115,000 (7.8%). Director Jung explained, “The reason for the sharp decrease in the growth of commercial workers is because the influx of new employees to the face-to-face service and manufacturing industries was limited.”
The number of employed over 36 hours, which can be estimated as a regular worker, in the number of hours of employment, decreased by 1154,000 (-5.3%) to 20827,000. The number of employed less than 36 hours during this period was 5.94 million, an increase of 692,000 (13.2%).
The number of inactive economically active people who do not work and do not find employment was 1667 million last month, an increase of 431,000 (2.7%) from a year ago. Among them, the’just rested’ population increased by 218,000 (10.2%) to 2353,000. Rest The size of the population was the largest since 2003, when relevant statistics were written. The number of job seekers was 776,000, an increase of 40,000 (5.4%) from the same month last year.
Among the inactive population, the number of those who gave up job hunting was 631,000, an increase of 144,000 from the same month last year. Job-seeking resignation refers to a person who has had a job search experience within the last year among the inactive population who hoped for a job and were able to find a job, but did not find a job due to labor market reasons.
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