Korea's job market shows lowest on-year growth in over 4 years

8월 취업자 작년대비 21.2만명 늘어, 4년반만에 최저

Taking a look at the employment figures for August.
The weakest growth for the job market in over four years has been recorded.
Youth unemployment... which hit the highest level since the edge of the 20th century.
Lee Unshin breaks down the digits for us.
The nation's job market showed disappointing growth last month.
According to Statistics Korea, the number of employed people stood at 26-point-seven million in August... up some 2-hundred-12-thousand jobs from the same period last year.
Public sector jobs contributed big,... with the public administration, defense and social security sectors creating 75-thousand more jobs.
However August had the lowest on-year growth since February 2013... and for the first time in 7 months, the growth figures plunged below 3-hundred-thousand.

(Korean- )
"The weak figures are mostly due to sluggish growth in the construction and real estate sectors. The real estate industry added 39-thousand jobs in August, a significant drop compared to some 73-thousand new jobs the industry created in July. And the construction sector seems to be shrinking even more rapidly than initially predicted."

Researchers at Statistics Korea added that the sporadic rain during the summer had a major impact on the construction sector's overall growth.
The jobless rate stayed same as last year at 3.6-percent.
But the youth unemployment rate, the rate for those aged 15 to 29, which is seen as a key indicator of general market conditions,... was at 9.4-percent, up 0.1-percent from last year.
Lee Unshin Arirang News.

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