South Korea employment rises by 108,000 as youth jobs decline

South Korea's total number of employed persons aged 15 and older rose by 108,000 year-on-year in July, reaching 29,136,000. Despite this overall increase, the employment rate for those aged 15 and older fell by 0.1 percentage points to 63.3%.

The labor market showed a significant divide between age groups. While employment for those aged 60 and older increased by 231,000, the youth population (ages 15–29) saw a sharp decline, with 191,000 fewer employed persons compared to the previous year. The youth employment rate dropped by 1.6 percentage points to 44.2%, and the youth unemployment rate rose by 1.3 percentage points to 6.8%, marking the largest increase in over five years.

Sector-specific data indicated continued declines in manufacturing and construction. Manufacturing employment fell by 68,000 for the 25th consecutive month, and construction employment decreased by 57,000 for the 27th consecutive month. Conversely, the health and social welfare services sector saw a significant increase of 173,000 workers.