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The Korean Labour Institute - Total Employment and Labor Force Latest

The Korean Labour Institute - Total Employment and Labor Force Latest

The labor force stood at 25,501,000 in 2012, 402,000 (1.6%) larger than a year earlier. By gender, the male labor force rose by 208,000 (1.4%), to 14,891,000, and the female labor force rose by 193,000 (1.9%), to 10,609,000. The labor force participation rate stood at 61.3% in 2012, an increase of 0.2 percentage points from a year earlier.

The employment rate was 59.4% in 2012, an increase of 0.3 percentage points from a year ago. By gender, the employment rate for men rose by 0.3 percentage points, to 70.8% in 2012, from a year ago, whereas the rate for women rose by 0.3 percentage points, to 48.4%.

Total employment, at 24,681,000 in 2012, was 437,000 (1.8%) more than a year earlier. By gender, male employment increased by 234,000 (1.7%), to 14,387,000, and female employment increased by 203,000 (2.0%), to 10,294,000.

Unemployment
The number of unemployed in 2012 was 820,000, a decrease of 35,000 (-4.1%) from a year earlier. The unemployment rate stood at 3.2% in 2012, a decrease of 0.2 percentage points from a year ago.

Employment Trends by Industry

In 2012, when compared with a year ago, industries that added jobs include business, personal, and public services (272,000, or 3.2%), wholesale and retail trade, accommodation and food services (104,000, or 1.9%), electricity, transportation, telecommunications, and finance (41,000, or 1.4%), construction (22,000, or 1.3%), and manufacturing (14,000, or 0.3%). However, agriculture, forestry, and fishing (-14,000, or -0.9%) witnessed a decrease in jobs in 2012.

Job Growth by Employment Status

As for job growth by employment status, the number of non-wage earners stood at 6,969,000 in 2012. This is an increase of 121,000 (1.8%) from a year earlier. The number of wage earners rose to 17,712,000 in 2012, an increase of 315,000 (1.8%) from a year ago. Among wage earners, the number of permanent workers rose to 11,097,000 in 2012, an increase of 436,000 (4.1%) from a year earlier. The number of temporary workers and Manufacturing Construction Wholesale & retail trade, accommodation & food services Business, personal, public services & others daily workers fell by 2,000 (-0.0%) and 120,000 (-6.9%), respectively, to 4,988,000 and 1,627,000 in 2012.

Unemployment by Age Group

In 2012, when compared with a year ago, the number of unemployed fell for the 15-to- 29 age group (-7,000), the 30-to-39 age group (-25,000), the 40-to-49 age group (-7,000), and the 60-and-older age group (-1,000), whereas the number of unemployed rose for the 50-to-59 age group (5,000) in 2012.

When compared with a year ago, in 2012 the unemployment rate fell for the 15-to-29 age group (7.5%, -0.1 percentage points), the 30-to-39 age group (3.0%, -0.4 percentage points), the 40-to-49 age group (2.0%, -0.1 percentage points), and the 60-and-older age group (2.4%, -0.2 percentage points). And the unemployment rate for the 50-to-59 age group remained unchanged from the rate observed a year ago (2.1%, -0.0 percentage points).

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