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South Korea – Job numbers rise for fifth consecutive month

15 November 2013

Some mixed signals were announced for the South Korean job market yesterday, as the number of new job openings in Korea rose for the fifth consecutive month in October, while conversely unemployment rose among young job seekers, reports arirang.co.kr.

Statistics Korea says that new jobs were created largely among the 50 and over age group, bringing the total number of employed to 26 million last month. The recent rise equates to a nearly +2% increase in the number of employed people compared with last year, and is the biggest jump in number for 13 months.

The employment rate of 60.5% in October 2013 remains stubbornly below the government’s target of 70%.

The unemployment rate for young job seekers, those aged between 15 and 29, rose to 7.8%, in stark contrast to the overall unemployment rate of 2.8%.


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