Seoul: South Korea added more than 310,000 jobs in September, posting the largest on-year growth in 19 months, driven by employment in the service sector following the government's stimulus package, data showed Friday. The number of employed people stood at 29.15 million last month, up 312,000 from a year earlier, according to the data compiled by the Ministry of Data and Statistics.
According to Yonhap News Agency, the September figure highlights a continued upward trend in employment following a brief contraction in December, when the country saw a net loss of 52,000 positions. It also marks the sharpest on-year growth since February 2024, when the country added 329,000 jobs.
This year, the labor market has been gradually recovering, adding 245,000 jobs in May before slightly easing to 183,000 in June, 171,000 in July, and 166,000 jobs in August. The employment rate for people aged 15 to 64 increased 0.5 percentage point from a year earlier to 70.4 percent last month, while the jobless rate remained unchanged at 2.1 percent, the data showed.
The service sector showed robust growth in employment, with the wholesale and retail industry adding 28,000 jobs in September to record the biggest on-year growth since November 2017. Employment in the accommodation and restaurant industry rose by 26,000, the largest growth since March. However, employment in the manufacturing and construction sectors continued to decline, signaling persistent weakness in key industries.
Employment for those aged 60 years and older jumped 341,000 from a year earlier, and jobs for people in their 30s went up by 133,000. On the other hand, jobs for those in their 20s fell by 134,000, while employment among those in their 40s and 50s decreased by 45,000 and 11,000, respectively. The number of economically inactive people decreased by 116,000 to 16 million as of end-September.