The number of regular subscribers to employment insurance continued to rise by the 200,000 range for the second straight month. Employment increased mainly in semiconductors and services, but construction has seen an employment slump for more than two years.
According to "Labor market trends based on employment administration statistics for February 2026," which the Ministry of Employment and Labor (MOEL) released on the 16th, the number of regular subscribers to employment insurance last month was 15,639,000, up 258,000 (1.7%) from a year earlier.
The increase in regular subscribers to employment insurance fell below the 200,000 range continuously after recording the 200,000 range in Oct. 2024. After 15 months, it returned to the 200,000 range in January, and the increase remained in the 200,000 range last month as well.
By industry, regular subscribers to employment insurance in services increased by 269,000, driving the overall rise. In particular, health and welfare added 117,000. Subscribers also increased in most service sectors, including lodging and food, business services, and professional and scientific technology.
In contrast, regular subscribers to employment insurance in manufacturing fell by 3,000, marking nine consecutive months of decline. Decreases appeared in metal processing, textiles, and machinery and equipment, while some sectors such as electronics and communications, food products, and other transportation equipment saw increases. The increase widened in semiconductors (4,600) and electronic components (2,400).
Regular subscribers to employment insurance in construction decreased by 11,000. Led by general construction, the decline has continued for 31 consecutive months. However, the pace of decline appears to be easing somewhat.
By age, increases were seen among those in their 30s (89,000), 50s (48,000), and 60 or older (201,000), while declines were seen among those 29 or younger (67,000) and in their 40s (12,000). An MOEL official said, "The impact of the population decline among those in their 20s is significant," and noted, "The decrease was centered on manufacturing, information and communications, and wholesale and retail."
Meanwhile, new applicants for job-seeking benefits totaled 87,000, down 30,000 (258%) from a year earlier. The number of recipients of job-seeking benefits last month was 634,000, down 35,000 (5.2%) from a year earlier. The amount paid in job-seeking benefits was 948 billion won, down 11.6% year over year. The MOEL analyzed, "Because of the Lunar New Year holiday in February, the number of working days at employment centers was three fewer than a year earlier, which had a significant impact."
In addition, both the number of new job openings through the employment service platform "Employment 24" and the job openings-to-applicants ratio (0.37) declined. The ratio refers to the number of job openings per job seeker, meaning there are only 37 jobs per 100 job seekers. This is the lowest since February 2009.