SEOUL, Aug. 12 (Korea Bizwire) — South Korea lost about 277,000 jobs in July, marking a decline in the number of the employed for a fifth consecutive month, as the new coronavirus pandemic strained business activities, data showed Wednesday. The country’s jobless rate rose by 0.1 percentage point on-year to 4 percent in July, with [...]
SEOUL, May 18 (Korea Bizwire) — The number of jobless South Koreans hit a record high in the first four months of the year due mainly to the coronavirus impact, a report showed Monday. Roughly 2.08 million people in the country remained unemployed during the January-April period, according to the report from Rep. Choo Kyung-ho [...]
SEOUL, April 20 (Korea Bizwire) – The government should take aggressive measures to prevent a possible jump in unemployment due to the outbreak of the novel coronavirus, a private think tank said Monday. The Korea Economic Research Institute (KERI) said it has proposed a list of 10 labor policy tasks to the labor ministry in [...]
SEOUL, April 13 (Korea Bizwire) – The amount of state allowances paid to those unemployed or seeking jobs soared to a record high of nearly 900 billion won (US$738 million) in March, data showed Monday, due largely to the negative economic impact from the coronavirus outbreak. According to the Ministry of Employment and Labor, the [...]
SEOUL, Jan. 13 (Korea Bizwire) — The proportion of unemployed people aged 25-29 in South Korea has ranked the highest among member nations of the Organization for Economic Cooperation and Development (OECD), a report showed Monday. According to the report by the Bank of Korea (BOK), the 25-29 age bracket accounted for 21.6 percent of [...]
SEOUL, Jan. 2 (Korea Bizwire) — It’s 4 a.m. in the morning, and street cleaner Lee Seong-hyeong, 22, is already out for work. It takes another hour to change into a working uniform, bring out all necessary equipment and begin official duties at 5 a.m. Despite the cold at -6 degrees celsius, Lee is soon [...]
SEOUL, Mar. 10 (Korea Bizwire) — Job openings in South Korea dropped to an 88-month low on the last working day of January, a clear testament to the difficulties facing people trying to find work, state statistics showed Sunday. The Korean Statistical Information Service said that nationwide job openings for businesses with one or more [...]
SEOUL, Oct. 14 (Korea Bizwire) – South Korea’s jobless numbers in the third quarter surpassed the 1 million mark for the first time since the country struggled with the fallout of the Asian financial crisis, government data showed Sunday. Numbers released by Statistics Korea showed the average monthly unemployment stood slightly over 1.06 million in [...]
SEOUL, Sept. 13 (Korea Bizwire) – The frozen job market in South Korea is showing no signs of thawing. Disappearing part-time jobs at restaurants, wholesale and retail businesses are deteriorating the outlook for young people, as unemployment approaches the rock bottom felt during the financial crisis in the late 1990s. The employment data for August [...]
SEJONG, Aug. 22 (Korea Bizwire) — Unemployment numbers for the 25-39 age group, which normally represents new entrants to the job market, were at their highest in 19 years last month, state data showed Wednesday. The number of people without jobs in the age group hit 338,000 in July, the highest since 434,000 tallied in [...]