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S. Korea's Job Losses Continue for Seventh Month

Written: 2020-10-16 08:53:19Updated: 2020-10-16 10:51:29

S. Korea's Job Losses Continue for Seventh Month

Photo : YONHAP News

South Korea lost more than 390-thousand jobs in September, extending the losing streak to a seventh month amid the COVID-19 pandemic. 

According to Statistics Korea on Friday, the number of employed people reached around 27-point-01 million last month, down 392-thousand from a year earlier. 

Jobs have dropped for seven straight months since March. It is the longest decline since the country posted job losses for eight months from January 2009 during the global financial crisis. 

The employment rate for those aged 15 or older slipped by one-point-two percentage points on-year to 60-point-three percent. 

The economically active population plunged by 276-thousand on-year to about 28 million. The economically inactive population, or people who are capable of working but choose not to seek jobs, came to 16-point-eight million, up 532-thousand on-year. 

The country's jobless rate rose by point-five percentage points on-year to three-point-six percent in September, with the number of jobless people rising 116-thousand on-year to one million.

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