South Korea added more than 300-thousand jobs last year as the employment rate hit a record high.

According to Statistics Korea on Wednesday, the number of employed people stood at 28 million-416-thousand in 2023, up 327-thousand on-year for a one-point-two-percent increase.

The annual figure grew to 301-thousand in 2019 but plunged to 218-thousand in 2020 due to the outbreak of COVID-19, before turning around to 369-thousand the following year. In 2022, the figure grew at the steepest pace in 22 years with 816-thousand.

By age group, the largest employment increase was among people aged 60 and older with an on-year increase of 366-thousand while the figure for those aged 15 to 29 decreased by 98-thousand.

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

Similarly, the rate for those aged 15 to 64 also rose by zero-point-seven percentage points on-year to a record high 69-point-two percent.

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