The Ministry of Economy and Finance published its assessment of August 2026 labor conditions, reporting that employment increased by 184,000 year over year and by a seasonally adjusted 82,000 from July. Employment growth accelerated for a third consecutive month, while the employment rate for people aged 15 to 64 rose 0.5 percentage points to a record 70.4%. The overall employment rate was unchanged at 63.3%, and unemployment remained at 2.0%. Services added 345,000 jobs, led by health and social welfare and arts and recreation. Manufacturing and construction employment continued to fall, although their respective declines narrowed to 38,000 and 32,000, while agriculture, forestry and fisheries lost 109,000 jobs. Youth conditions remained weak: the youth employment rate fell 1 percentage point to 44.1% and unemployment rose 0.5 percentage points to 5.4%, although the number of young people classified as resting declined year over year for a seventh consecutive month to 395,000. The government will review implementation preparations for employment measures included in the 2027 budget proposal, including the youth employment recovery plan. An employment task force will develop measures for manufacturing, construction, agriculture, forestry and fisheries, including steps to strengthen industry activity and workforce training. The ministry also flagged heightened Middle East tensions and the base effect from a 312,000 job increase in September 2025 as potential constraints on near-term employment growth.
2026-09-09Ministry of Economy & Finance (South Korea)
South Korea's Ministry of Economy and Finance reports 184,000 August job gain and targets weak sectors
South Korea added 184,000 jobs year over year in August, supported by services, while manufacturing, construction and agriculture continued to lose employment. Youth employment remained weak despite a seventh consecutive decline in the number classified as resting. The government plans targeted measures for vulnerable groups and contracting industries.