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Job Growth Continues for 6th Month, Jobless Rate Hits Record Low

Written: 2021-09-15 08:27:07Updated: 2021-09-15 14:56:34

Job Growth Continues for 6th Month, Jobless Rate Hits Record Low

Photo : YONHAP News

The number of people with jobs in the country has increased for the sixth consecutive month in August despite the protracted fourth wave of the COVID-19 pandemic. 

Statistics Korea said on Wednesday that the number of employed people stood at 27-point-six million last month, up 518-thousand from a year earlier. 

South Korea reported job losses for 12 months in a row through February before a turnaround in March, when 314-thousand jobs were added. 

Jobs increased by 652-thousand in April to post the largest on-year growth in six years and eight months, and continued with 619-thousand in May, 582-thousand in June and 542-thousand in July.

However, employment in the in-person service sector fell significantly. Jobs in the wholesale, retail, restaurant and lodging businesses declined by more than 150-thousand. 

In addition, the number of self-employed people who hired workers fell by 61-thousand to one-point-three million, the lowest number for the month of August in 31 years. 

The employment rate for those aged 15 or older rose by zero-point-eight percentage points from a year earlier to 61-point-two percent. 

Meanwhile, the jobless rate dropped zero-point-five percentage points on-year to two-point-six percent, a record low for the month of August.

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