Key facts
- South Korea added 108,000 jobs in July year-on-year.
- Manufacturing employment decreased by 68,000 jobs.
- The jobless rate rose to 2.6% in July.
- The employment rate for young adults (15-29) declined.
South Korea's labor market experienced a positive trend in July, with the addition of 108,000 jobs compared to the same period last year. This marks the second consecutive month of job growth, following a period of decline. The total number of employed individuals reached 29.13 million. However, the manufacturing sector continues to struggle, shedding 68,000 jobs year-on-year. The national jobless rate edged up to 2.6% in July, an increase of 0.2 percentage points from the previous year, with the number of unemployed persons totaling 776,000. The employment rate for the 15-64 age group saw a slight increase to 70.3%, but the rate for younger individuals aged 15-29 dropped significantly by 1.6 percentage points to 44.2%.