From BigGo Finance · BigGo Finance · · 1m 20s
South Korea Job Growth Slows, Manufacturing Rebounds
South Korea's job growth slowed to 113,000 in September as manufacturing rebounds after 27 months of decline.
In brief
South Korea's job growth slowed to 113,000 in September as manufacturing rebounds after 27 months of decline. South Korea's September job growth slowed to 113,000 from August's 184,000 while manufacturing employment rose for the first time in 27 months. Originally reported by BigGo Finance.
South Korea's September Job Growth
South Korea's employed population reached 29.266 million in September, up 113,000 from a year earlier.
Manufacturing Employment Rebounds
Manufacturing employment rose 16,000, turning positive for the first time in 27 months.
Youth Employment Weakness
Employment among those in their 20s fell by 170,000, and the employment rate for ages 15, 29 declined for the 29th consecutive month.
Youth Employment Rate Change
The employment rate for ages 15, 34, published for the first time, fell 0.4 percentage point to 56.1%.
Unemployment Trends
The headline unemployment rate edged down 0.1 percentage point to 2.0%, but the expanded unemployment rate for young people rose to 15.6%.
Manufacturing Sector Details
Health and social welfare services led gains with 207,000 new jobs, while accommodation and food services declined by 97,000.
Youth Employment Impact
The employment rate for ages 15, 34 declined less than under the 15, 29 standard, showing stabilization in early-to-mid 30s.
What to remember
South Korea's September job growth slowed to 113,000 from August's 184,000 while manufacturing employment rose for the first time in 27 months.
