Job growth slows in South Korea |
Korea's job market added 153,000 wage jobs in the final three months of 2024 compared to the previous year, according to Statistics Korea. However, job growth has slowed significantly, with the latest figures down from 246,000 jobs added in the previous quarter. The increase was primarily driven by growth in the health and social welfare sectors, while youth employment saw a decline, with 148,000 fewer jobs for those in their 20s, a drop of 4.7%. Notably, older workers benefited from the job market, with those aged 60 and above gaining 248,000 positions. The health and social welfare sector recorded the largest increase, adding 140,000 jobs, while the construction sector lost 51,000 jobs, reflecting ongoing industry challenges. |
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