Last month, the number of employed people increased by 123,000 compared to the same month last year. The employment rate (OECD standard) for those aged 15-64 rose by 0.3 percentage points (p) to 69.9% compared to the same month last year. However, the employment rate for youth (ages 15-29) fell by 0.8 percentage points to 45.5% compared to the same month last year. It is noted that the employment barrier for youth has risen.
According to the 'November Employment Trends' released by Statistics Korea on the 11th, the number of employed persons aged 15 and over last month was 28,821,000, an increase of 123,000 compared to the same month last year. The increase in employment in October was 83,000, falling short of the '+100,000 level,' but it recovered within a month.
Looking at the structure of the economically active population, the population aged 15 and over was 45,628,000, an increase of 152,000 compared to the same month last year. Among them, the economically active population was 29,477,000, an increase of 102,000, and the non-economically active population was 16,151,000, an increase of 50,000.
Among the economically active population, there were 28,821,000 employed and 656,000 unemployed. The employment rate for those aged 15 and over was 63.2%, an increase of 0.1 percentage points, while the unemployment rate was 2.2%, a decrease of 0.1 percentage points.
In terms of changes in the number of employed by age group, those aged 60 and over saw the largest increase, with 298,000 more. This was followed by the 30s with an increase of 89,000 and the 50s with an increase of 7,000. In contrast, those in their 20s saw a decrease of 170,000, and those in their 40s saw a decrease of 91,000.
The employment rate for those aged 60 and over rose by 0.5 percentage points to 47.3% compared to the same month last year, marking the largest increase. The employment rate for those aged 15-29 decreased by 0.8 percentage points to 45.5% compared to the same month last year.
By industry, the health and social welfare service industry saw the largest increase, with 113,000 more. The education service industry also increased by 106,000. The information and communication industry increased by 71,000.
On the other hand, due to the construction industry slump, the number of employed in the construction industry decreased by 96,000. Employment in the manufacturing and retail industries also decreased by 95,000 and 89,000 respectively. The number of employed in the retail industry has decreased for nine consecutive months, and in the construction industry for seven consecutive months.
In November, the number of unemployed was 656,000, a decrease of 21,000 compared to the same month last year. By gender, the number of unemployed men decreased by 32,000 to 362,000 compared to the same month last year, while the number of unemployed women increased by 11,000 to 294,000. The unemployment rate was 2.2%, a decrease of 0.1 percentage points compared to the same month last year.
Among the non-economically active population, the population 'resting' by age group increased by 65,000 in the 20s compared to the same month last year.