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Unemployment Benefit Payouts Hit Record High Last Year

Write: 2019-01-20 12:41:41Update: 2019-01-20 13:18:01

Unemployment Benefit Payouts Hit Record High Last Year

Photo : YONHAP News

The combined amount of unemployment benefits handed out to job seekers hit a record high last year.

According to preliminary employment data on Sunday, the government paid unemployment benefits worth six-point-68 trillion won in 2018, up one-point-four trillion won from a year earlier.

That is the largest figure since 2008 when the government released related data.

The number of jobless people came to a record high one-point-07 million last year, and the number of people who received unemployment benefits also soared by nine-point-three percent on-year to one-point-39 million last year.

By industry sector, the construction industry saw the largest increase in the amount of unemployment payouts, which jumped 58 percent on-year to over 700 billion won last year.

The government views the rises as the result of the nation’s increased social safety net.

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