Seoul, April 15 (IANS) South Korea added 206,000 jobs in March, topping the 200,000 mark for the second straight month, though weakness in youth employment and the manufacturing sector persisted, data showed on Wednesday.
The number of employed people rose by 0.7 percent from a year earlier to 28.79 million last month, according to the data from the Ministry of Data and Statistics, reports Yonhap news agency.
After slowing for two consecutive months, job growth had rebounded to the 200,000 range in February.
By age, the number of employed people aged 15 to 29 fell by 147,000 in March, marking the 41st consecutive month of on-year decline, the ministry said.
The employment rate for the age bracket also dropped for the 23rd consecutive month, slipping 0.9 percentage point from a year earlier to 43.6 percent in March.
“Employment among young people fell in lodging and food services, information and communications, and manufacturing,” said Bin Hyun-joon, a ministry official, noting that the downward trend also reflects a preference for experienced positions and the growing use of rolling recruitment.
In contrast, employment among people aged 60 and older increased by 242,000.
By industry, the health care and social welfare sector led the job growth, adding 294,000 positions, up 9.4 percent from a year earlier.
The transportation and warehousing sector gained 75,000 jobs, while the arts, sports and leisure-related services sector added 44,000 jobs.
In contrast, manufacturing, considered the backbone of the South Korean economy, shed 42,000 jobs from a year earlier, extending its downturn to the 21st consecutive month.
The construction sector posted a decline of 16,000 jobs, marking the 23rd straight month of losses.
Employment in the wholesale and retail sector fell by 18,000, marking the first on-year decline since April last year.
The ministry said the drop was driven by structural changes, including the expansion of online shopping and increased automation, which have reduced employment in retail industries.
The accommodation and food service sector lost 2,000 jobs, remaining in negative territory for the fifth consecutive month since November.
The four sectors — manufacturing, construction, retail and accommodation — are considered key indicators of domestic demand, the ministry added.
Professional, scientific and technical services shed 61,000 jobs, marking declines for the fourth consecutive month mainly due to the spread of artificial intelligence (AI), the ministry said.
The number of economically inactive people went up 69,000 from a year earlier to 16.27 million.
Notably, the number of people reporting that they were not working simply to rest went up 31,000 to 2.55 million, according to the ministry.
—IANS
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