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Economic Report

Economic reports, briefs issued by Samsung Economic Research Institute

Job Growth Records Nine-month High in July

Job Growth Records Nine-month High in July

Aug. 19, 2013

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Korea's labor market is showing a modest growth as the number of the newly employed exceeds 300,000 for the second consecutive month. Statistics Korea reported 367,000 workers were added to payrolls in July compared to the same month last year, placing the total number of employees at 25.47 million. In June, the number workers grew 360,000 year-on-year. July's job creation also recorded the highest in nine months since October last year when the figure was 396,000. The country's employment rate rose 0.1 percentage point year-on-year to 60.4% while the employment rate of those aged 15-64 based on OECD standards also went up 0.2 percentage point to 65.1%.


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