-
Important news
-
News
-
Shenzhen
-
China
-
World
-
Opinion
-
Sports
-
Kaleidoscope
-
Photos
-
Business
-
Markets
-
Business/Markets
-
World Economy
-
Speak Shenzhen
-
Leisure
-
Culture
-
Travel
-
Entertainment
-
Digital Paper
-
In-Depth
-
Weekend
-
Lifestyle
-
Diversions
-
Movies
-
Hotels and Food
-
Special Report
-
Yes Teens!
-
News Picks
-
Tech and Science
-
Glamour
-
Campus
-
Budding Writers
-
Fun
-
Futian Today
-
Advertorial
-
CHTF Special
-
Focus
-
Guide
-
Nanshan
-
Hit Bravo
-
People
-
Person of the week
-
Majors Forum
-
Shopping
-
Investment
-
Tech and Vogue
-
Junior Journalist Program
-
Currency Focus
-
Food and Drink
-
Restaurants
-
Yearend Review
-
QINGDAO TODAY
在线翻译:
szdaily -> World Economy -> 
S. Korea sees sharp drop in jobs in April
    2020-05-14  08:53    Shenzhen Daily

SOUTH KOREA’S unemployment rate was unchanged in April but the number of employed fell at its fastest in more than two decades, data showed yesterday, as efforts to contain the coronavirus pandemic shut businesses and cut social activity.

The nation’s unemployment rate was a seasonally adjusted 3.8 percent in April, unchanged from March.

However, the number of employed was 26.6 million in April, 476,000 fewer than a year earlier, for the worst plunge since February 1999, when the figure shrank 658,000, data from Statistics Korea showed.

Asia’s fourth-largest economy could contract this year as global demand for South Korean goods falls and jobs vanish across the service and manufacturing sectors, even as policymakers pump out stimulus to keep credit flowing to businesses.

The government plans to inject more than 245 trillion won (US$200.62 billion) in stimulus, or about 10 percent of gross domestic product, to support businesses and keep more South Koreans in jobs through the pandemic.

The economy faces a “wartime situation” with “colossal” damage from the pandemic, President Moon Jae-in said Sunday, the third anniversary of his inauguration.

“The employment shock is also growing as time passes,” Moon added.

“Unemployment fears are spreading beyond self-employed small business owners, non-permanent workers and day laborers to affect almost all employees, including full-time employees and those at mid-market companies and large businesses.”

Breakdowns showed workers at retailers and restaurants were the hardest hit in April, as the numbers of new jobs fell 334,000 from a year earlier.

After the data release, Finance Minister Hong Nam-ki said the government plans to urgently create more than 550,000 jobs to protect self-employed businesses and those in temporary jobs.

(SD-Agencies)

深圳报业集团版权所有, 未经授权禁止复制; Copyright 2010, All Rights Reserved.
Shenzhen Daily E-mail:szdaily@szszd.com.cn