November 06, 2019 13:40
More than 2 million people in Korea are able to work but have no intention to do so, Statistics Korea said Monday.
The economically inactive population stood at a whopping 16.33 million in August, up 158,000 or one percent on-year, and a record for the month. The figure includes people who have given up looking for work or are unable to work.
But 2.17 million of them were not working for no particular reason and said they have no intention to, up 349,000 on-year and an all-time high of 13.3 percent of the group.
The figure rose slightly by 0.4 percentage points among people in their 20s and 0.9 percentage points in their 30s but dropped 2.1 percentage points among the over-60s.
The number of people who work for no fixed pay stood at 6.8 million, down 0.9 percent. These are mostly family members of the self-employed who help out in a small shop or restaurant.
Their number drastically dwindled in the retail and wholesale and manufacturing sector because so many small shops and cottage industries went out of business. Many small business owners laid off all staff amid the sharp minimum wage increase and economic downturn.
The number of self-employed people without staff reached 4.13 million, up 2.4 percent, while the number of those with employees fell a whopping seven percent to 1.54 million.
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