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Job Growth Falls to 3 Year Low in May

Written: 2024-06-12 10:28:02Updated: 2024-06-12 10:29:40

Job Growth Falls to 3 Year Low in May

Photo : YONHAP News

The nation added just 80-thouand jobs in May from a year ago, the smallest growth in 39 months.

According to Statistics Korea on Wednesday, the number of employed people stood at 28-point-91 million in May, up 80-thousand from the same month last year.

That’s the smallest gain in three years and three months since February 2021, when the nation lost 473-thousand jobs.

Job growth fell below 100-thouand again in May a month after rebounding to over 200-thousand the previous month. 

The employment rate for those aged 15 and older remained unchanged from a year ago at 63-point-five percent last month. The jobless rate rose by zero-point-three percentage points on-year to three percent in May.

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