July Employment Up by 108,000, but Youth Employment Rate Declines for 27 Straight Months (Supplement)

Ministry of Data and Statistics Releases July Employment Trends

The number of employed people last month increased by 108,000 compared to a year ago, marking an increase for the second consecutive month. However, the stagnation in employment among youth and in the manufacturing sector, both critical pillars of employment, continued. The employment rate for young people declined for 27 consecutive months, while the employment rate for the manufacturing sector fell for 25 straight months.

Job seekers waiting for consultations at Seoul Western Employment Welfare Plus Center in Mapo-gu, Seoul. Photo by Yonhap News Agency

According to the “July Employment Trends” report released by the Ministry of Data and Statistics on August 12, the number of employed people aged 15 and over last month reached 29,136,000, an increase of 108,000 from a year earlier. The number of employed had continued to rise by 100,000–200,000 during January to March of this year, then slowed to an increase of 74,000 in April, decreased by 40,000 in May, and switched back to an increase of 63,000 in June.

However, the employment rate for those aged 15 and over stood at 63.3%, slipping by 0.1 percentage point and declining for the fourth consecutive month. In particular, youth employment remains sluggish. The employment rate for those aged 15–29 was 44.2%, maintaining its downward trend for 27 straight months. The unemployment rate for the 15–29 youth group climbed to 6.8%, rising by 1.3 percentage points. This is the largest increase in five and a half years since January 2021, when it had climbed by 1.8 percentage points.

By industry, the manufacturing sector, which is a key pillar of the economy, remained sluggish. The number of people employed in manufacturing fell by 68,000 (1.6%), marking the 25th consecutive monthly decrease. The construction sector also lost 57,000 jobs, affected by the slump in the real estate market. Employment in agriculture, forestry, and fisheries declined by 80,000.

Bae Hyun-joon, Director-General for Social Statistics at the Ministry of Data and Statistics, commented, "During the survey week, there were public servant exams, increased public sector hiring, and expanded recruitment for positions such as delinquent payment managers, farmland investigators, and public interns." He added, "As the number of new job openings has continued to rise for four consecutive months, the unemployment rate, particularly among young people, has increased."

The economically inactive population stood at 16,103,000, an increase of 99,000. Among them, the population classified as “rested” amounted to 2,518,000, a decrease of 62,000.

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