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S. Korea Posts Job Growth for 3rd Straight Month

Written: 2021-06-09 09:17:08Updated: 2021-06-09 11:50:08

S. Korea Posts Job Growth for 3rd Straight Month

Photo : YONHAP News

South Korea posted job growth for the third consecutive month in May. 

Statistics Korea said on Wednesday that the number of jobs last month stood at 27-point-55 million, up by 619-thousand from a year earlier. 

It is the second month in a row the number of jobs grew over 600-thousand following 652-thousand in April, which marked the largest on-year growth in over six years. 

The country saw on-year job contraction for 12 consecutive months since it lost 195-thousand jobs in March of last year before marking a turnaround this March with an increase of 314-thousand jobs. 

Jeong Dong-myeong, a senior official at the statistics agency, attributed the growth to strong exports, expanded consumption, the maintenance of eased social distancing and the base effect from a severe job loss in May last year, among other factors. 

The employment rate for those aged 15 to 64 rose by one percentage point from a year earlier to 61-point-two percent. 

The jobless rate dropped zero-point-five percentage point on-year to four percent.

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