Job Losses Pile up

  • By Ahn Joong-hyeon

    November 12, 2020 11:14

    Job losses continued for eight consecutive months amid a resurgence of coronavirus infections.

    Korea is suffering the longest period of rising unemployment since the aftermath of the global financial crisis in January-August 2009. Worries are mounting that the trend will continue amid the protracted epidemic.

    According to Statistics Korea on Wednesday, the number of people with jobs fell by 421,000 on-year to 27.09 million in October.

    At the early stage of the epidemic it was mostly temporary workers who lost their jobs. But now more workers in regular full-time positions seem to be affected as their number increased by a mere 14,000 in October from a year earlier, a 21-year low.

    Jobseekers apply for work at an employment office in Seoul on Wednesday. /Yonhap

    And the blight first seen in the service industry is now spreading to manufacturing. The number of jobs in manufacturing dropped by 98,000 in October, compared to 68,000 the previous month.

    The recession continues in vulnerable businesses, especially hospitality, where employment fell by more than 200,000 for two months running.

    Only the number of employed people over 60 has kept rising for eighth months thanks to government employment programs. 

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