The number of employees in domestic enterprises decreased for four consecutive months compared to the same period last year. This is the first occurrence, excluding the 'COVID-19 period,' since the Ministry of Employment and Labor conducted a related survey in 2009. A government official assessed that "The employment situation is not good."
According to the enterprise labor force survey results published by the Ministry of Employment and Labor on the 29th, as of last month, the number of employees in enterprises with one or more workers was 20,274,000, which is 2,000 less than the same month last year (20,275,000).
The decline in the number of enterprise employees has continued for four months since January of this year. Initially, February was recorded as an increase, leading to fluctuations early this year, but as a result of the correction of employment sector statistics starting from January 2023, corrections were made to ▲ January (-55,000), ▲ February (-8,000), and ▲ March (-26,000).
This is the second longest decline since relevant statistics began to be compiled in 2009. In the past, the number of enterprise employees decreased for the "longest period" from March 2020 (-235,000) to February 2021 due to COVID-19 effects.
The recession in the construction industry is cited as the biggest reason. The number of employees in the construction industry has decreased for ten consecutive months since July of last year. Last month, 91,000 workers (-6.1%) were lost. Additionally, the wholesale and retail industries (-1.5%) and accommodation and food services (-0.9%) saw significant declines.
The manufacturing industry, which has the largest share of employees (18%) in the country, also saw a decrease of 6,000 workers. The decline in the manufacturing sector has been ongoing since October 2023.
The number of "empty jobs" is also decreasing. Empty jobs refer to positions that are currently vacant and actively hiring, meaning jobs that can be filled immediately within a month. Jobs that are not being recruited are not counted as empty jobs. At the end of last month, the number of empty jobs was 152,000, a decrease of 22.4% compared to the same period last year. If only considering regular positions, the number was reduced to 135,000, reflecting a decrease of 24.5%.
In this regard, Kim Jae-hoon, Director of the Ministry of Employment and Labor's Labor Market Survey Division, noted, "There are indicators that predict a decrease in hiring next month," adding, "It can be interpreted that the economic situation is not very good."
As of March, the total wage per regular worker was 4,391,000 won, representing an increase of 3.2% compared to the same month last year. Fixed wages increased by 3%, overtime pay by 4%, and bonuses by 3.9%. Director Kim stated, "The increase in bonuses was influenced by a slight recovery in the semiconductor industry in the manufacturing sector, changes in the timing of bonus payments, and increased bonuses in the finance and insurance sector."
In contrast, the total wage per temporary and daily worker was 1,775,000 won, reflecting a decrease of 3.9% compared to the same month last year. Director Kim stated, "The decrease in average wage is due to the exit of temporarily employed workers from the construction industry, which typically has higher wages."
Meanwhile, this survey reflected the latest population information, '2023 Status of Enterprise Labor,' which corrected employment sector statistics starting from January 2023.