{"id":43139,"date":"2024-01-10T00:00:00","date_gmt":"2024-01-10T00:00:00","guid":{"rendered":"http:\/\/myanmarnewswire.com\/?guid=46d24efdf07080723758f50779b2d2a4"},"modified":"2024-01-10T00:00:00","modified_gmt":"2024-01-10T00:00:00","slug":"lead-jobs-in-manufacturing-sector-for-youths-decline-in-2023-despite-overall-gains","status":"publish","type":"post","link":"https:\/\/myanmarnewswire.com\/lead-jobs-in-manufacturing-sector-for-youths-decline-in-2023-despite-overall-gains\/","title":{"rendered":"(LEAD) Jobs in manufacturing sector, for youths decline in 2023 despite overall gains"},"content":{"rendered":"
\n South Korea’s on-year employment grew at a slower pace in 2023 as the number of newly employed fell in the manufacturing sector and among young people, data showed Wednesday.<\/p>\n
The number of employed people rose 327,000 in 2023 from a year earlier, or 1.2 percent, to come to 28.41 million, according to the data compiled by Statistics Korea.<\/p>\n
It marked the third consecutive year that the country added jobs on-year, following job losses in 2020 due to the COVID-19 pandemic, though the job growth slowed from 2022, when the country had 816,000 more jobs, the largest number since 2000.<\/p>\n
But the employment rate of people aged 15-64 rose 0.7 percentage point on-year to 69.2 percent in 2023, the highest figure since the statistics agency began compiling related data in 1989.<\/p>\n
The employment rate of people aged 15 and older also reached the highest level of 62.6 percent last year since 1963.<\/p>\n
The country’s jobless rate inched down 0.2 percentage point to 2.7 percent in 2023.<\/p>\n
The number of unemployed people fell by 46
\n,000 from a year earlier to come to 787,000 last month, according to the agency.<\/p>\n
The number of economically inactive people lost 134,000 to 16.2 million in 2023.<\/p>\n
“Rising demand for social welfare services and the recovery of pre-pandemic normalcy had led to the job growth for three years in a row, though the manufacturing and construction sectors, among other fields, shed jobs,” an agency official said.<\/p>\n
By sector, the manufacturing sector shed 43,000 jobs in 2023, the most since 2020, when the field lost 53,000 jobs.<\/p>\n
The decline was due mainly to an economic slowdown and dwindling exports, as well as a high base effect, the agency said. The sector added 135,000 positions in 2022.<\/p>\n
The wholesale and retail sector also lost 37,000 jobs last year, extending the losing streak for the sixth year.<\/p>\n
The real estate and construction fields had 18,000 and 9,000 fewer jobs, respectively, last year.<\/p>\n
But the medical and social welfare service segment had 143,000 new jobs, and the accommodation and restaurant field s
\naw 114,000 new jobs.<\/p>\n
By age, jobs for those aged 60 and older rose by 366,000 on-year, the largest increase among all age brackets.<\/p>\n
Those in their 50s and 30s also had 59,000 and 54,000 more jobs, respectively, last year.<\/p>\n
But the number of jobs for those aged 15-29 dropped by 98,000 amid the dwindling population of the age group, and people in their 40s also saw 54,000 fewer positions for them in 2023.<\/p>\n
In December alone, the country added 285,000 jobs on-year, picking up the pace from the previous month’s 277,000 job additions.<\/p>\n
Hiring has logged on-year monthly growth since March 2021, the data showed.<\/p>\n
The manufacturing sector had 10,000 more workers last month, marking the first on-year growth since December 2022 as the economy has shown signs of a turnaround.<\/p>\n
The jobless rate, however, went up by 0.3 percentage point to 3.3 percent, and it was the first time that the rate marked an on-year rise since March 2021.<\/p>\n
Source: Yonhap News Agency<\/p>\n","protected":false},"excerpt":{"rendered":"
South Korea’s on-year employment grew at a slower pace in 2023 as the number of newly employed fell in the manufacturing sector and among young people, data showed Wednesday.<\/p>\n
The number of employed people rose 327,000 in 2023 from a year earlier, or…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"yoast_head":"\n