The government is taking steps to address employment challenges in vulnerable sectors, including youth and construction, by reviewing job policies and preparing additional measures. Plans are underway to implement the 'National Job Project,' which encompasses both private and public job opportunities as well as vocational training, while continuously monitoring employment conditions in struggling industries.
On the morning of October 16, the Ministry of Finance and Economy and the Ministry of Employment and Labor held the 11th joint task force meeting on employment at the Government Seoul Building, chaired by Vice Minister Kwon Dae-young of the Ministry of Finance and Economy and Vice Minister Kwon Chang-jun of the Ministry of Employment and Labor. They discussed and reviewed September employment trends and key employment-related tasks for three major social policies.
While the recent trend of increasing employment continues, the government has identified ongoing difficulties in certain vulnerable sectors, including youth and construction, agriculture, and fisheries. They also assessed the potential downward pressures on the job market due to external uncertainties, such as rising tensions in the Middle East.
In response, the government plans to focus on three key social policies in the employment sector to ensure that the recent recovery in employment supports economic growth and benefits the public. They aim to quickly establish a plan for the 'National Job Project,' which will include expanding existing job measures and identifying new policy initiatives.
Efforts to address struggling industries will also be strengthened. The government will continuously monitor employment conditions by sector and develop strategies that include enhancing industrial vitality, workforce training, expanding job creation and entrepreneurship, improving working conditions, and strengthening the employment base.
September employment indicators showed an overall increase, but disparities were evident across sectors. The number of employed individuals rose by 113,000 compared to the same month last year, marking three consecutive months of increases above 100,000. However, the year-on-year increase was smaller than the 318,000 recorded in September of the previous year, influenced by base effects.
By sector, employment in manufacturing increased by 16,000, marking its first rise in 27 months. In contrast, the increase in the service sector dropped from 345,000 in August to 221,000 in September.
Employment in construction decreased by 48,000, a larger decline than the previous month's drop of 32,000. Employment in agriculture, forestry, and fisheries also fell by 94,000.
In terms of employment status, the increase in regular positions rose from 180,000 to 253,000, while the decline in temporary and daily jobs worsened.
Youth employment challenges persist, with the youth employment rate falling by 1.1 percentage points compared to the same month last year, a slight increase in the rate of decline from August's 1.0 percentage point drop. However, the number of youth who were not in the labor force decreased by 44,000 compared to the same month last year, continuing an eight-month downward trend.
Vice Minister Kwon Dae-young stated, "We will mobilize the capabilities of relevant ministries to quickly establish a plan for the 'National Job Project' so that the benefits of economic growth can be realized in the lives of the people. We will actively explore new policies in addition to expanding existing measures."
Vice Minister Kwon Chang-jun also emphasized, "We will actively promote the 'National Job Project' in collaboration with relevant ministries to broaden job opportunities for more citizens and ensure that everyone can feel the warmth of job creation."
* This article has been translated by AI.
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