New Unemployment Hits Record High

  • By Ahn Joong-hyeon

    June 15, 2020 12:59

    The number of newly unemployed Koreans hit a record in May amid the coronavirus epidemic. The newly unemployed are people who have been looking for jobs for less than the last three months.

    According to Statistics Korea on Sunday, their number stood at 735,000 last month, up 107,000 on-year and the biggest increase since records began in 1999.

    It also jumped during earlier crises -- 700,000-800,000 in 1999 after the Asian financial crisis, and 600,000 after the global financial crisis of 2008.

    Yet the number of the long-term unemployed who had tried to find jobs for more than six months stood at 100,000 in May, down 9,000 on-year.

    However, Statistics Korea said the drastic jump in new unemployment just as lockdown was eased is largely because many people who simply were not looking for work due to the epidemic started to do so again. 

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