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S. Korea Adds 700,000 Jobs in September, Growth Slows

Written: 2022-10-14 10:42:27Updated: 2022-10-14 15:31:40

S. Korea Adds 700,000 Jobs in September, Growth Slows

Photo : YONHAP News

The nation added more than 700-thousand jobs in September, but the growth slowed for the fourth consecutive month.

According to Statistics Korea on Friday, the number of employed people stood at 28 million-389-thousand last month, marking an increase of 707-thousand from a year earlier.

It marks the largest on-year gain for September in 23 years since 1999, when 935-thousand jobs were added, as well as the 19th consecutive month  of job growth since March of last year.

The pace of on-year job growth, however, slowed for the fourth consecutive month, shrinking from 935-thousand in May.

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-four percentage points on-year to reach 62-point-seven percent last month, the highest for the month since the nation started compiling related data in 1982. 

The jobless rate dropped by zero-point-three percentage points on-year to two-point-four percent, the lowest for the month of September since 1999.

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