January 982,000 employed ↓… Maximum decrease in 22 years and 1 month
National Statistical Office’January 2021 Employment Trend’ announced
Decrease for 11 consecutive months since last March
Employment rate 57.4%… Lowest since 2011
1.57 million unemployed… After creating statistics
By Newsis
Posted 2021-02-10 08:41:39
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According to the’December 2020 and Annual Employment Trends’ released by the National Statistical Office on the 13th, the number of employed last month was 26526,000, a decrease of 628,000 (-2.3%) from a year ago. As the number of employed people decreased for 10 consecutive months due to the impact of Corona 19, the number of employed people last year also fell 218,000 (-0.8%) from the previous year to 26.94,000. It is similar to the government forecast (-220,000 people) announced on the 17th of last month. On the 13th, job seekers are waiting to apply for unemployment benefits at the Seoul Western Employment Welfare Plus Center in Mapo-gu, Seoul.
It was found that the number of employed people decreased by nearly 1 million last month due to the economic contraction caused by the prolonged new coronavirus infection (Corona 19). The decline was the largest in 22 years and 1 month since December 1998 (-1283,000 people).
According to the’January Employment Trend’ released by the National Statistical Office on the 10th, the number of employed last month was 25818,000, down 982,000 (-3.7%) from the previous year. From March last year (-195,000 people), when Corona 19 spread greatly in Korea, it has stepped back for 11 consecutive months. It is the longest decline since the 16th consecutive month of decline from January 1998 to April 1999 during the International Monetary Fund (IMF) financial crisis.
The decline in the number of employed has been in May (-392,000), June (-352,000), July (-277,000), and August (-27) since April last year (-476,000). 14,000 people) for 4 consecutive months. In the aftermath of the re-proliferation of Corona 19, the decline in September (-392,000 people) and October (-421,000 people) of last year increased, but in November (-273,000 people) showed a slowdown. In December (-628,000 people), it showed the largest decline in 21 years and 10 months since February 1999, and worsened last month.
The total employment rate, which is the proportion of employed people among the 15-year-olds and older, was 57.4%, down 2.6 percentage points (p) from a year ago. As of the same month, it is the lowest since 2011 (57%). The employment rate for the age of 15 to 64, which is the comparison standard of the Organization for Economic Cooperation and Development (OECD), was 64.3%, down 2.4%p from the previous year. It is the lowest as of the same month since January 2013 (63.2%).
Last month, the number of unemployed was 1.57 million, an increase of 417,000 (36.2%) from the same period last year. The size of the unemployed was the largest since the statistics were reorganized in June 1999. The unemployment rate, which is the proportion of the unemployed among the economically active population, was also 5.7%, up 1.6 percentage points from a year ago. Excluding January 2000 (5.7%), which recorded the same number, it is the highest since the statistics reform.
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