South Korea’s Ministry of Economy and Finance reported that employment increased by 113,000 year on year in September, extending six figure gains for a third consecutive month, while manufacturing employment returned to growth after 27 months. The government will prepare a National Jobs Project covering private and public sector job creation, alongside targeted measures for industries and groups where employment remains weak. Manufacturing added 16,000 jobs as earlier export growth supported hiring, while services added 221,000 despite slower growth in domestic demand sectors. Construction employment fell by 48,000 and agriculture, forestry and fisheries employment declined by 94,000. Permanent employment rose by 253,000, lifting its share of total employment to a September record of 57.8%. The employment rate for people aged 15 to 64 rose 0.2 percentage points to a record 70.6%, but the youth employment rate fell 1.1 percentage points to 44.0%. The government plans industry specific responses for construction, agriculture, forestry and fisheries, including measures to support business activity, workforce development and working conditions. It will also prepare for full implementation in 2027 of the Youth Employment Recovery Plan announced on Aug. 28.
South Korea’s Ministry of Economy and Finance reports 113,000 job gain and prepares National Jobs Project
South Korea added 113,000 jobs year on year in September, with manufacturing employment growing for the first time in 27 months and permanent employment reaching a record share. Weakness persisted among young people and in construction and primary industries. The government will prepare a National Jobs Project and targeted employment measures.