South Korea's employment registers fastest May growth in 22 years

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South Korea's employment registers fastest May growth in 22 years
June 15, 2022, 9:54 am

South Korea's employment registers fastest May growth in 22 years

South Korea-Seoul/Pixabay

Statistical office data in South Korea showed Wednesday (June 15) that the number of employed people in the country rose 935,000 in May from a year earlier, marking the fastest May growth in 22 years.

According to Statistics Korea, the number of those employed totaled 28,485,000 in May, up 935,000 from the same month of last year.

It was the fastest May increase in 22 years since 2000. The year-over-year employment growth shrank from 1,135,000 in January to 1,037,000 in February and 831,000 in March each before rebounding to 865,000 in April and 935,000 in May.

The employment rate for those aged 15 or higher rose 1.8 percentage points from a year earlier to 63.0 percent in May.

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The Xinhua noted that the number of those unemployed came to 889,000 in May, down 259,000 from a year earlier. The jobless rate slipped 1.0 percentage point to 3.0 percent last month.

Source: xinhua

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