S. Korea's job growth stays in 100,000 range for 4th month in October

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SEOUL, Nov. 11 (Xinhua) -- South Korea's job growth stayed in the 100,000 range for a fourth straight month, driven by employment gains in service-oriented industries that offset…

SEOUL, Nov. 11 (Xinhua) -- South Korea's job growth stayed in the 100,000 range for a fourth straight month, driven by employment gains in service-oriented industries that offset slumps in the hospitality and the construction sectors, statistical ministry data showed Wednesday.

The number of employed people aged 15 and older gained 139,000, or 0.5 percent, from a year earlier to 29,179,000 in October, maintaining the 100,000-range increase since July, according to the Ministry of Data and Statistics.

The overall employment rate for those aged 15 and older slipped 0.1 percentage points year-on-year to 63.3 percent in October, but the OECD-standard hiring rate for those aged 15-64 rose 0.3 percentage points to 70.4 percent, the highest figure for any October since related data began to be compiled in 1989.

By industry, domestic demand-driven sectors recorded sharp contractions, with employment in the accommodation and food service sector dropping 137,000 to extend its losing streak to three consecutive months.

The manufacturing industry, which posted its first expansion in 27 months in September, slipped back into negative territory with a loss of 7,000 jobs, while the construction sector also lost 42,000 jobs, continuing its downward trend for 30 months in a row.

The losses were offset by strong hiring in the health and social welfare service, the transport and warehousing, and the business facilities management industries, which logged job increases of 249,000, 48,000 and 37,000 each.

The cold spell for youth labor was prolonged. The number of employed people aged 15-29 plummeted 196,000 in October from a year earlier, continuing to go down for 48 successive months.

The number of unemployed people totaled 602,000 in October, down 56,000 from a year ago. The unemployment rate dipped 0.2 percentage points to 2.0 percent.

The economically inactive population, who had no willingness to seek a job and remained unemployed, rose 179,000 to 16,299,000 last month. ■

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