SEOUL, September 9 (AJP) - Youth employment in South Korea fell for a 46th straight month in August, and manufacturing jobs extended their losing streak to 26 months despite stronger headline additions that mostly went to temporary elderly jobs.
The number of employed people aged 15 to 29 fell by 143,000 from a year earlier to 3.428 million. Their employment rate dropped 1.0 percentage point to 44.1 percent.
People in their 20s accounted for most of the decline, with employment falling by 164,000 from a year earlier.
The youth unemployment rate rose 0.5 percentage point to 5.4 percent, while the overall unemployment rate remained unchanged at 2.0 percent.
Factory employment also remained under pressure.
Employment in mining and manufacturing fell by 37,000 from a year earlier, including a decline of 38,000 in manufacturing. The manufacturing decrease narrowed from 68,000 in July but remained in negative territory.
Construction employment fell by 32,000, from a year earlier. Agriculture, forestry and fisheries lost 109,000 jobs. Accommodation and food services shed 61,000.
The weaker youth and factory figures contrasted with an improvement in overall employment.
South Korea added 184,000 jobs from a year earlier in August, bringing the number of employed people aged 15 and older to 29.151 million. The increase widened from 108,000 in July.
The employment rate for people aged 15 to 64, the OECD comparison standard, rose 0.5 percentage point to 70.4 percent.
The employment rate for people aged 15 and older remained unchanged at 63.3 percent.
Job gains were concentrated among older workers and service industries.
Employment among people aged 60 and older increased by 191,000 from a year earlier. Employment also rose by 91,000 among people in their 30s and by 62,000 among those in their 50s.
Jobs among people in their 40s fell by 70,000.
By industry, health and social welfare services added 186,000 jobs.
Arts, sports and recreation services gained 73,000 jobs. Business facilities management and support services added 45,000.
Regular employees increased by 180,000 from a year earlier. Temporary employees declined by 50,000, while daily workers fell by 17,000.
The number of unemployed people fell by 4,000 to 588,000. The seasonally adjusted unemployment rate eased to 2.7 percent from 2.8 percent in July.
AJP Takeaways
- South Korea's youth employment fell by 143,000 in August, extending its decline to a 46th straight month as the youth employment rate dropped to 44.1 percent.
- South Korea's manufacturing employment fell by 38,000 from a year earlier, while employment across mining and manufacturing declined by 37,000.
- South Korea's overall employment increased by 184,000, with gains led by workers aged 60 and older and health and social welfare services.
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