Youth Employment Insurance Subscribers Decline for 46 Months... Total Subscribers Increase by Over 200,000 for Six Consecutive Months

Manufacturing Declines for 13 Consecutive Months,
Construction Down for 35 Months in a Row

The number of employment insurance subscribers aged 29 and under has declined for 46 consecutive months since September 2022. However, the scale of the decrease has steadily narrowed and shown signs of easing compared to last year. In contrast, the total number of employment insurance subscribers has increased by over 200,000 for six consecutive months this year, driven by growth in the service sector. The manufacturing and construction sectors have continued to see declines for 13 months and 35 months, respectively.

According to the "Labor Market Trends Based on Employment Administration Statistics for June 2026," released by the Ministry of Employment and Labor on July 13, the number of regular employment insurance subscribers at the end of last month was 15,855,000, an increase of 264,000 (1.7%) compared to the same month last year. The increase in subscribers expanded from 183,000 in December last year to 264,000 in January this year and has remained in the 200,000 range for six consecutive months. The monthly increases were 264,000 in January, 259,000 in February, 270,000 in March, 271,000 in April, 270,000 in May, and 264,000 in June.

By age group, the number of subscribers aged 29 and under decreased by 63,000 from the same month last year, marking a decline for 46 consecutive months. However, the scale of the decrease has narrowed from 113,000 in September last year to just above 60,000 this year. Subscribers in their 40s also decreased by 2,000, mainly due to the manufacturing and construction sectors. On the other hand, the number of subscribers aged 60 and over rose by 206,000, driving the overall increase. Those in their 30s increased by 82,000, and those in their 50s by 41,000. Cheon Kyunggi, Director of Future Employment Analysis at the Ministry of Employment and Labor, stated, "The decrease in young subscribers has eased considerably compared to last year." However, he added, "Based on the number of employed, the decrease in unstable jobs among youth, such as temporary and daily positions, has been significant, so the actual employment situation may feel even more challenging."

The KB Good Job Employment Fair was held on the 27th at COEX in Gangnam-gu, Seoul. Many job seekers visiting the fair are checking the job announcement board. 2026.04.27 Photo by Dongju Yoon

By industry, the number of service sector subscribers increased by 279,000 (2.6%), leading the overall growth. The health and welfare sector posted the largest gain with 112,000, followed by the accommodation and restaurant sector (55,000), business services (26,000), professional and scientific technical services (22,000), and education services (20,000). Notably, the accommodation and restaurant sector saw an increase of over 50,000 subscribers for five consecutive months. The food and beverage sector, which includes restaurants and coffee shops, drove the growth with an increase of 52,800 subscribers.

The wholesale and retail sector saw an increase of 2,300 subscribers, marking a sixth consecutive month of growth, though the pace slowed compared to the previous month (3,000). The wholesale and goods brokerage sector turned to a decrease, down by 1,900, while the retail sector increased by 2,900. The impact of store closures was also observed at Homeplus, which is undergoing corporate restructuring. Director Cheon explained, "Since last year, the number of employment insurance subscribers at Homeplus has been gradually declining due to store closures, and this trend of reduction by several hundred continued from January to June this year." Currently, the number of employment insurance subscribers at Homeplus is estimated to be around 12,000.

The number of manufacturing subscribers decreased by 9,000, continuing a 13-month streak of decline, with the scale of decrease widening from the previous month (-8,000). Although the food and electronics/communications sectors continued to grow, the pace of growth slowed. In contrast, the chemical products sector (-2,400), automobile sector (-2,100), and electrical equipment sector (-2,000) all saw decreases. The number of domestic subscribers in manufacturing dropped by 22,000, marking 33 consecutive months of decline. However, the other transportation equipment manufacturing sector, which includes shipbuilding, increased by 5,500, and the ship and boat building sector has posted increases for 43 consecutive months.

The number of construction sector subscribers fell by 8,000, the 35th consecutive month of decline. The decrease continued to be concentrated in general construction, but the scale of the decline has somewhat eased. Last month, the number of new unemployment benefit applicants was 90,000, an increase of 4,000 (4.5%) compared to the same month last year. The downward trend observed from February to May has reversed, and the ministry analyzed that differences in the number of working days had some impact.

The number of unemployment benefit recipients decreased by 20,000 (3.0%) to 635,000, but the amount paid increased by 23.1 billion won (2.2%) to 1.0747 trillion won. According to Work24, the job opening-to-applicant ratio was 0.48, up from 0.39 in the same month last year. The number of new job openings was 183,000, a 21.4% increase year-on-year, while the number of new job seekers was 384,000, a decrease of 0.8% compared to last year.

This content was produced with the assistance of AI translation services.