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Finance Ministry Releases Grim Economic Assessment amid Poor Employment Data

Written: 2025-01-17 13:58:03Updated: 2025-01-17 15:08:09

Finance Ministry Releases Grim Economic Assessment amid Poor Employment Data

Photo : YONHAP News

The government’s concerns about the economy have increased since the country was under martial law on December 3.

The Ministry of Finance and Economy released its monthly economic report or Green Book for January on Friday, revealing that employment is slowing down and downward pressure on the economy is increasing due to growing domestic and international uncertainties and weakening economic sentiment.

The addition of the term “employment slowdown” since last month’s economic assessment highlights the growing concerns about the economy.

Last month, the phrase “economic recovery” was removed for the first time in 14 months.

The government’s bleak economic assessment this month is likely influenced by the employment figures released Wednesday, which indicate that the number of employed people decreased by 52-thousand in December from the previous year, marking the first such decline in three years and ten months.

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