Menu Content
Go Top

Economy

816,000 Jobs Added in 2022, Largest Growth in 22 Years

Written: 2023-01-11 09:01:21Updated: 2023-01-11 11:17:27

816,000 Jobs Added in 2022, Largest Growth in 22 Years

Photo : YONHAP News

The nation added more than 800-thousand jobs last year, the largest growth in 22 years.

According to Statistics Korea on Wednesday, the number of employed people stood at 28 million-89-thousand in 2022, marking an increase of 816-thousand from a year earlier for the largest gain since 2000, when 882-thousand jobs were added.

Annual job growth dropped to negative 218-thousand in 2020 due to the outbreak of COVID-19, but turned around to 369-thousand in 2021 before climbing further in 2022 to significantly surpass the government's estimate of 280-thousand made in December 2021.

The employment rate for those aged 15 and older rose by one-point-six percentage points on-year to reach 62-point-one percent last year, the highest since the nation started compiling related data in 1963.

The unemployment rate dropped by zero-point-eight percentage points on-year to two-point-nine percent.

The 2022 job growth is attributed to eased COVID-19 quarantine restrictions, increased jobs in delivery, caretaking, and the IT sector and robust exports, but this year is feared to see a sharp decline as economic growth is expected to slow.

Editor's Pick

Close

This website uses cookies and other technology to enhance quality of service. Continuous usage of the website will be considered as giving consent to the application of such technology and the policy of KBS. For further details >