Seoul: South Korea's employment rose for the sixth consecutive month due to an expansion in elderly jobs, statistical office data showed Wednesday. The number of employed people aged 15 and older grew 183,000, or 0.6 percent, from a year earlier to 29,091,000 in June, maintaining an upward trend since January, according to Statistics Korea.
According to Namibia Press Agency, the overall job growth was driven by the elderly. The number of jobs for those aged 60 and older expanded by 348,000 in June on a yearly basis, while the figure for those in their 30s increased by 116,000. Conversely, employment among those aged 15-29 dropped by 173,000, and jobs for those in their 40s and 50s decreased by 55,000 and 53,000, respectively.
Employment in the manufacturing sector declined by 83,000 in June compared to the same month last year, marking a 12-month downward trend. This decline was attributed to continued sluggishness in domestic demand and the negative impact of U.S. tariffs. The construction industry also saw job losses, with a decrease of 97,000 jobs, continuing a 14-month downward trend.
Job growth was notable in sectors such as health and social welfare services, science and technology services, and education services, with increases of 216,000, 102,000, and 72,000 jobs, respectively. The number of regular and irregular employees rose by 318,000 and 58,000, while the count of daily laborers decreased by 63,000.
The number of self-employed individuals who hired employees fell by 21,000, and the figure for self-employed workers without employees decreased by 45,000. The employment rate for those aged 15 and older increased by 0.1 percentage point to 63.6 percent in June, while the OECD-method hiring rate for those aged 15-64 rose by 0.4 percentage points to 70.3 percent.
The number of unemployed people decreased by 32,000 to 825,000 in June, with the unemployment rate falling by 0.1 percentage point to 2.8 percent. The expanded jobless rate, which includes discouraged jobseekers and involuntary part-time workers, decreased by 0.1 percentage point to 8.6 percent, while the rate for those aged 15-29 increased by 0.8 percentage points to 16.3 percent.
The economically inactive population, those with no intention of seeking employment, rose by 42,000 to 15,828,000 in June. The number of discouraged jobseekers decreased by 32,000 to 341,000, while the "take-a-rest" group, individuals who reported taking a rest during the job survey period, increased by 60,000 to 2,434,000. This group is significant as it may include individuals too discouraged to seek employment over an extended period.