South Korea Adds 74,000 Jobs in April as Youth Employment Falls for 42nd Month

7 articles · Updated · asiae.co.kr · May 13

South Korea added 74,000 jobs in April, lifting total employment to 28.961 million but marking the smallest year-on-year gain in 16 months after increases above 200,000 in February and March.
A 115,000 drop in professional, scientific and technical services—the steepest since the 2013 industry reclassification—combined with higher oil prices, weaker consumer sentiment and Middle East war fallout to slow hiring.
Youth employment remained the weakest point: jobs for people aged 15 to 29 fell by 194,000 for a 42nd straight monthly decline, while the youth employment rate dropped 1.6 points to 43.7%, down for 24 months.
Manufacturing lost 55,000 jobs, wholesale and retail shed 52,000, and construction fell 8,000, while health and welfare added 261,000, largely on care demand and senior public-job programs.
The government said it is monitoring the slowdown and external risks, and plans tailored support for vulnerable groups, including employment services for about 100,000 young people under its Youth New Deal.

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