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Economic Report

Economic reports, briefs issued by Samsung Economic Research Institute

Job Growth Slows to the 200,000-level in May

Job Growth Slows to the 200,000-level in May

June 17, 2013

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Korea's job market added 265,000 positions from a year ago in May, said Statistics Korea. May's job growth, which represents a drop from the 345,000 gain logged in the previous month, placed the country's total number of jobs at 25,398,000. According to the Ministry of Strategy and Finance, despite robust job gains by regular and manufacturing workers, the overall pace of job growth slowed in that month as the self-employed, and manufacturing and young workers had difficulties in finding jobs. The ministry analyzed that the slower job growth was partly attributable to the Buddha's birthday holiday which fell during the statistical agency's employment survey period.


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