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Unemployment Allowance Payouts Exceed 1 Trln Won for 4th-Straight Month

Written: 2020-09-07 18:52:16Updated: 2020-09-07 18:54:49

Unemployment Allowance Payouts Exceed 1 Trln Won for 4th-Straight Month

Photo : YONHAP News

Unemployment benefits paid out in the month of August reached nearly one-point-one trillion won amid the prolonged fallout from the COVID-19 outbreak. 

The Employment and Labor Ministry said on Monday that one trillion and 97-point-four billion won worth of unemployment allowances were paid out last month, marking a whopping 51-point-two percent rise from a year earlier. 

Although the latest figure is slightly lower than a record-high one trillion and 188-point-five billion won paid out in July, the nation saw over one trillion won doled out to the unemployed for the fourth-consecutive month. 

The number of recipients jumped 49 percent on-year to 705-thousand last month, although it edged down from 731-thousand in July. 

Meanwhile, the number of employment insurance subscribers rose one-point-nine percent on-year to 14 million and 19-thousand, marking the first time the figure topped the 14-million-mark.

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