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S. Korea's Employment Plunges to Nearly 11-Year Low in March

Written: 2020-04-17 09:02:43Updated: 2020-04-17 09:04:47

S. Korea's Employment Plunges to Nearly 11-Year Low in March

Photo : YONHAP News

The number of employed people in South Korea plunged to a nearly eleven-year low in March due to the fallout of the COVID-19 pandemic.

According to Statistics Korea on Friday, the number of employed people reached 26-point-six million during the month, down 195-thousand from a year earlier. 

It's the largest drop since May 2009 when it slipped by 240-thousand. 
 
The employment rate for those aged 15 or older fell point-nine percentage points on-year to 59-point-five percent, the lowest March figure since 2013.

The employment rate for those aged 15 to 64 also slipped point-eight percentage points on-year to 65-point-four percent in March, the lowest figure for the month since 2016.  

The country's jobless rate decreased point-one percentage point on-year to four-point-two percent. 

March's job drops are attributed to the COVID-19 outbreak, which has dealt a harsh blow to industries requiring offline contact with customers.

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