March 18, 2021 13:01
Jobs declined for the 12th consecutive month in February. Statistics Korea said Wednesday that the number of employed people in the country dwindled by 473,000 in February compared to a year ago. That was the longest job decline in Korea since the 1997 Asian financial crisis, when it continued for 16 months.
The drop was smaller than the 628,000 jobs lost in December, when lockdown was tightened, and 982,000 in January. But taking the month of February alone, it was the biggest since 1999.
The real youth unemployment rate, which includes people between 15 to 29 who have given up searching for work, reached a staggering 26.8 percent, the highest on record.
But employment among people over 60 or increased thanks to artificial job-creation programs for them by the government.
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