Home » Business » The level of economic crisis due to the 7th month deterioration of the three employment indicators, including a decrease of 273,000 employed, a decrease of 1.0%p in the employment rate, and an increase in the unemployment rate of 0.3%

The level of economic crisis due to the 7th month deterioration of the three employment indicators, including a decrease of 273,000 employed, a decrease of 1.0%p in the employment rate, and an increase in the unemployment rate of 0.3%

According to the employment trend for November this year published by the National Statistical Office on December 16, the number of employed persons aged 15 or older was 27,241,000 last month. Compared to the same period in 2019, the number of people decreased by 273,000 (-1.0%). It is the longest decline in 21 years since the decline for 16 consecutive months from January 1998 to April of the following year during the IMF financial crisis.

There were 1,5523,000 males and 1,1718,000 females, a decrease of 85,000 (-0.5%) and 188,000 (-1.6%) compared to last year, respectively. Was more damaging.

By industry, it increased in public administration, defense and social security administration (152,000 persons: 13.6%), health and social welfare service industry (114,000 persons: 5.0%), and construction industry (77,000 persons, 3.7%). On the other hand, the decline in wholesale and retail businesses (-166,000 people: -4.6%), accommodation and restaurants (-161,000 people: -7.0%), and education service (-107,000 people: -5.6%).

The manufacturing industry (-113,000 people: -2.5%), which is classified as relatively regular and high-quality jobs, has declined for the ninth month since March, and the decline, which had slowed from July, increased for three consecutive months.

By age, only 372,000 (0.8%p) of public jobs (alba) increased among those over 60 years old, but all of the rest of the age groups declined, further deteriorating the youth and elderly jobs that form the middle class.

20s (-209,000: -3.2%p), 30s (-194,000: -1.1%p), 40s (-135,000: -1.0%p), 50s (-7 14,000 people: -0.8%p), followed by a large decrease.

Among wage workers, the number of regular workers (38,000) increased due to a significant increase in the employment of public servants, but temporary workers (-162,000) and daily workers (-44,000) decreased. The job shock of the vulnerable continued.

Among non-wage workers, the number of self-employed workers with employees decreased by 115,000 (-7.8%), the number of unpaid family workers decreased by 45,000 (-4.2%), and the number of self-employed without employees increased by 55,000 (1.3%). The damage of small business owners, which forms the basis of the local economy, is getting worse.

Statistically, the number of’unpaid temporary leave’ who are classified as employed but practically no wages is 474,000, a sharp increase of 189,000 (66.2%) from a year ago, further fueling the current economic downturn.

The economically active population was 28.28,000, a decrease of 172,000 (-0.6%) from last year. It has been declining for nine consecutive months. The number of inactive economically active population was 1,667 million. Compared to a year ago, it increased by 431,000 (2.7%). Among the inactive population,’resting’ increased by 218,000 (10.2%) to 2353,000. It increased in all age groups except in their 50s (-17,000 people, -3.9%). The number of job seekers who have given up job hunting within a year and want to find a job but could not find a job due to labor market reasons was 631,000, an increase of 144,000 from last year.

The number of unemployed people is 967,000. An increase of 101,000 (11.7%) from a year ago. The unemployment rate rose 0.3 percentage points to 3.4%. The highest since November 2004 (3.5%) in the same month.

Employment Subsidy Index 3 (Expanded Unemployment Rate), which shows the perceived unemployment rate, was 13.0%, up 2.5 percentage points from a year ago. The expanded unemployment rate for youth also rose 4.0 percentage points to 24.4%.

Looking at the current status of the employed by working hours, the number of employed workers who work 36 hours or more a week decreased by 1154,000 (-5.3%) to 2,0827,000. The number of non-regular workers who were employed for less than 36 hours rose to 5.94 million, which is 692,000 (13.2%). The number of alba workers who are short-time workers 1 to 17 hours per week increased by 150,000 (7.9%) to 2047,000.

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