Go to Contents Go to Navigation

Job losses extend into August amid pandemic, unemployment rate up to 3.1 pct

All News 08:00 September 09, 2020

SEJONG, Sept. 9 (Yonhap) -- South Korea lost about 274,000 jobs in August, marking a decline in the number of the employed for the sixth consecutive month, as the coronavirus pandemic hammered job markets, data showed Wednesday.

The country's jobless rate rose by 0.1 percentage point on-year to 3.1 percent in August, with the number of employed people falling to 27.08 million, according to the data compiled by Statistics Korea.

It marked the longest fall since the eight months of decline posted in 2009 amid the global financial crisis.

The employment rate for those aged between 15 and 64 reached 60.4 percent, down 1 percentage point on-year.

The number of economically active people decreased 267,000 to reach 27.94 million, while those inactive expanded by 534,000 to reach 16.86 million, the data showed.

The COVID-19 pandemic has been widely considered to have had a full-fledged impact on local job markets over the second half considering the time lag of one to two quarters of an economic crisis.

Jobseekers look at the floor plan of a recruitment event in Seoul on July 15, 2020. (Yonhap)


Issue Keywords
Most Liked
Most Saved
Most Viewed More
Send Feedback
How can we improve?
Thanks for your feedback!