South Korea’s Ministry of Economy and Finance published its October 2026 employment assessment, showing that employment increased by 139,000 from a year earlier, the fourth consecutive gain of at least 100,000. Services drove the annual increase, although seasonally adjusted employment fell by 50,000 from September. Youth employment remained weak, and the government plans targeted support for groups facing employment difficulties.
The employment rate among people aged 15 to 64 rose 0.3 percentage points from a year earlier to 70.4%. Services employment increased by 272,000, led by health and social care. Manufacturing lost 7,000 jobs after posting growth in September, while construction job losses narrowed to 42,000. Among people aged 15 to 29, the employment rate fell 1.7 percentage points to 42.9%, a steeper annual decline than in September. However, the number of young people outside the labor force classified as taking a break declined from a year earlier for the ninth consecutive month, reaching 371,000.
The government plans to promptly prepare a National Jobs Project to improve employment conditions for young people, older people and middle-aged early retirees, including training based on labor demand. Direct job creation programs supporting vulnerable groups’ winter incomes and employment are scheduled for implementation through the end of 2026. Preparations are also underway for the main implementation in 2027 of the youth employment recovery measures previously announced on Aug. 28.