the country’s job market finally seems
to be on a road to recovery with a sharp increase in the number of newly added
jobs last month as well as a fall in the unemployment rate our Kim Hanul reports the South Korean economy created four
hundred nineteen thousand new jobs on year in October adding more than three
hundred thousand new jobs for the third consecutive month the employment rate
for those aged over 15 reached 61.7% the highest level in 23 years for the month
of October by sector the number of Health and Social Welfare service
lodging and restaurant jobs saw increases but the number of new jobs in
South Korea’s manufacturing wholesale and retail and financial sectors fell in
particularly the manufacturing sector saw jobs decrease for the 19th straight
month by age group those in their 20s 50s and 60s saw the number of new jobs
go up those 60 or above saw jobs jumped by over 410,000 accounting for most of
last month’s rise but those in their 30s and 40s saw the number of jobs drop as
they’re mainly concentrated in the manufacturing and Finance sectors as a
whole the number of unemployed people in South Korea fell to 8-under 64 thousand
last month the overall unemployment rate dropped half a percentage point on year
to 3% a low not seen since October 2013 South Korea’s youth unemployment rate
also dropped more than 1 percentage points to 7.2 percent a seven-year low
for the month of October finance minister who Nimisha the recovery is
encouraging but noted how the manufacturing sector remains sluggish he
added the government will help nurture an extra hundred thousand jobs in smart
manufacturing to boost productivity tomato juice