Job growth in August hit an 11-month high with 432,000 more people in employment compared to a year ago, Statistics Korea said Wednesday. That brought the total employment figure for the month to 25.29 million and was the highest increase since 680,000 more people found jobs in September last year.
The country added 200,000 to 300,000 jobs a month on average at the beginning of the year, soaring to 360,000 in June and 367,000 in July.
The Ministry of Strategy and Finance said the launch of a job creation project in July thanks to a supplementary budget has started taking effect.
Another reason is that more people were employed in hotels, transportation firms and restaurants as more people went on vacation to avoid unusually sweltering summer weather.
The quality of jobs was also good, with full-time positions increasing by 639,000 and temporary and one-off day jobs dropping by 73,000 and 60,000 in August.
The employment rate stood at 60 percent, up 0.3 percentage points on-year. By age group, jobs for those in their 50s and those aged 60 and over increased by 288,000 and 182,000, showing that many older people are eagerly looking for work.
Jobs for those in their 40s also increased by 45,000, the third increase in as many months.
But the number of employed people in their 20s and 30s fell yet again by 36,000 and 23,000.
Changes in demographics should be taken into account, Statistics Korea said. The population aged 50-69 is increasing while that of younger people between ages 20 and 39 is on the decline.