South Korea Job Growth Reaches 100,000 Mark for Third Month
What happened
The Ministry of Data and Statistics reported that employment in South Korea gained 113,000 people in September, reaching 29,266,000, which is 0.4 percent higher than a year earlier. This figure marks the third consecutive month where job growth has exceeded 100,000. While the overall employment rate for those aged 15 and older fell 0.2 percentage points, the OECD-standard hiring rate for those aged 15-64 rose 0.2 percentage points to 70.6 percent.
From english.news.cn
Why it matters
The report indicates a turnaround in the manufacturing industry, which saw 16,000 new jobs in September, marking a rebound after June 2024. However, job losses continued in the construction industry, which reached 48,000 last month, and in the accommodation and food services sector, which lost 97,000 jobs.
Reuters reports on consumer inflation in Seoul using statistics from the Ministry of Data and Statistics.
From english.news.cn
Who's involved
- Ministry of Data and StatisticsProvided the official statistical figures on employment for South Korea.
- KoreaThe geopolitical state for which the employment statistics were released.
- Bank of KoreaThe central bank of the Republic of Korea, which uses CPI data from the Ministry of Data and Statistics.
- ReutersAn international news agency that uses the Ministry of Data and Statistics' figures for reporting.
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The entities involved
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Ministry of Data and Statistics
South Korea's principal government institution in charge of statistics and census data
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Seoul
capital and largest city of South Korea