According to the Ministry of Labor's "Labor Market Trends Based on April Employment Statistics" released on May 11, the total number of regular enrollees in employment insurance reached 15.807 million at the end of April, an increase of 269,000 (1.7%) compared to the same period last year. The growth in regular enrollees has consistently been in the high 200,000s since January (263,000).
This increase is primarily attributed to a robust rise in the service sector, which saw an increase of 284,000 enrollees (2.6%) compared to a year ago. Notable growth was observed in health and welfare (117,000), accommodation and food services (54,000), business services (26,000), and professional, scientific, and technical services (23,000).
In contrast, the manufacturing sector experienced a decline of 8,000 (-0.2%) enrollees, marking 11 consecutive months of decrease. While there were increases in sectors such as other transportation equipment, electronics and communications, food, and medical substances and pharmaceuticals, significant reductions were seen in metal processing, textiles, rubber and plastics, and electrical equipment.
Regarding the recent decline in manufacturing enrollment due to the impact of the Middle East conflict, Cheon Gyeong-gi, head of the Ministry of Labor's Future Employment Analysis Division, stated, "We need to closely examine the decreases in the oil refining and chemical manufacturing sectors. However, given the ongoing trend of decline, we should monitor the situation a bit longer."
The construction sector also saw a decrease of 8,800 enrollees, bringing the total to 746,000, marking 33 consecutive months of decline. However, the rate of decrease has slightly lessened recently due to a reduction in sluggish construction investment. Cheon noted, "New applications for unemployment benefits in the construction sector have been on a downward trend since the second half of last year."
By age group, there were increases among those in their 30s (88,000), 50s (47,000), and those aged 60 and above (206,000), while there were declines among those under 29 (-64,000) and in their 40s (-7,000). The number of young enrollees has been decreasing for 44 consecutive months since September 2022.
The number of new applicants for unemployment benefits was 100,000, down by 3,000 (-2.7%) compared to a year earlier, marking three consecutive months of decline. The total number of beneficiaries was 667,000, a decrease of 34,000 from the previous year, and the total payout was 1.1091 trillion won, down 4.1%.
The job vacancy ratio, which indicates the number of job openings per job seeker, rose slightly to 0.45 from 0.43 a year ago. Cheon remarked, "There has been an upward trend in job openings for two consecutive months; however, considering the long-term decline, it is still difficult to view this as a recovery."
* This article has been translated by AI.
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