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626,000 Jobs Added in November, Growth Slows for Sixth Month

Written: 2022-12-14 08:37:24Updated: 2022-12-14 14:27:41

626,000 Jobs Added in November, Growth Slows for Sixth Month

Photo : YONHAP News

The nation added more than 600-thousand jobs in November, but growth slowed for the sixth consecutive month.

According to Statistics Korea on Wednesday, the number of employed people stood at 28 million-421-thousand last month, marking an increase of 626-thousand from a year earlier for the largest on-year gain for November since 1999, when one-point-21 million jobs were added.

Although last month was the 21st consecutive month of job growth since March of last year, the pace of on-year growth slowed for the sixth straight month after hitting 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-two percentage points on-year to reach 62-point-seven percent last month, the highest for November since the nation started compiling related data in 1982.

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

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