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807,000 Jobs Added in August, Growth Slows for Third Month

Written: 2022-09-16 09:13:11Updated: 2022-09-16 11:28:39

807,000 Jobs Added in August, Growth Slows for Third Month

Photo : YONHAP News

The nation added more than 800-thousand jobs in August, but the growth slowed for the third consecutive month.

According to Statistics Korea on Friday, the number of employed people stood at 28 million-410-thousand last month, marking an increase of 807-thousand from a year earlier to post the largest on-year gain for August in 22 years, when 848-thousand jobs were added.

The pace of on-year job growth, however, slowed for the third consecutive month, shrinking by nearly 100-thousand on-month in June and sliding by around 20-thousand the following two months.

January posted a 22-year high of over one million jobs added, which continued into February before dropping to the 800-thousands in March and April and then climbing above 900-thousand in May.

The employment rate for those aged 15 and older rose by one-point-six percentage points on-year to reach 62-point-eight percent last month.

The jobless rate dropped by zero-point-five percentage points on-year to two-point-one percent, with the number of jobless people retreating by 129-thousand from a year earlier to 615-thousand.

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