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S. Korea's job creation remains lackluster on MERS aftermath
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Job creation in South Korea remained lackluster in July as monthly employment grew by less than 400,000 on the aftermath of the Middle East Respiratory Syndrome (MERS) outbreak, a government report showed Wednesday.
The number of those employed came to 26,305,000 in July, up 326, 000 from a year earlier, according to Statistics Korea. The monthly job growth bottomed at 216,000 in April before increasing to 379,000 in May, but it resumed a downward trend to 329,000 in June and 326,000 in July each due to the aftermath of the MERS outbreak.
The deadly viral disease peaked in June as consumers refrained from outside activity, denting the already sluggish domestic demand. Job growth had been expected to recover fully from July, but the turmoil from the viral disease dashed such hopes.
The MERS, the first case of which was reported on May 20, infected 186 people and killed 36. The death toll and the contagion number have been unchanged for more than a month, and the government declared the de-facto end of the MERS crisis last month.
Manufacturers hired 170,000 workers in July, leading the monthly job creation. Employment in the service industry grew 210, 000, but it was a slower growth compared with the previous month.
Economically active population, which gauges those who participated in the job-searching market, gained 413,000 in July from a year earlier, resulting in a rise in both employment and unemployment rates.
The hiring rate of those aged 15 or more was 61.1 percent in July. The OECD-method employment rate for those aged 15-64 was 66. 3 percent last month, up 0.3 percentage points from a year earlier. It was the highest since the data began to be compiled in 1982.
Jobless rate climbed 0.3 percentage points from a year earlier to 3.7 percent in July. The unemployment rate for those aged 15-29 advanced 0.5 percentage points to 9.4 percent, indicating difficulties among youths in landing a job.
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