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351,000 Jobs Added in May to Post Record Employment Rate for Month

Written: 2023-06-14 09:01:13Updated: 2023-06-14 11:06:21

351,000 Jobs Added in May to Post Record Employment Rate for Month

Photo : YONHAP News

The nation added over 350-thousand jobs in May as the employment rate reached a record high for the month, but the number of jobs in the manufacturing sector fell for the fifth consecutive month.

According to Statistics Korea on Wednesday, the number of employed people stood at 28 million-835-thousand last month, marking an increase of 351-thousand from a year earlier, similar to the 354-thousand jobs added in April.

The employment rate for those aged 15 and older rose by zero-point-five percentage points on-year to reach 63-point-five percent in May, the highest for the month since the nation started compiling related data.

The number of employed people aged 60 and older rose by 379-thousand, but the other age groups posted a cumulative drop of 28-thousand, driven by a decrease of 99-thousand for those aged 15 to 29 in May, the seventh consecutive month of decline.

By sector, the number of jobs in manufacturing slipped by 39-thousand in May, falling for the fifth straight month.

The unemployment rate dropped by zero-point-three percentage points on-year to two-point-seven percent last month.

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