Employment of people in 30s, 40s suffers biggest decline in nine years

By Yonhap

Published : Oct. 7, 2018 - 12:06

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The number of South Korean employees in their 30s and 40s suffered the biggest fall since 2009, government data showed Sunday, in the latest sign of sluggish employment amid an economic slowdown.

The data compiled by Statistics Korea showed that the average number of employed people in their 30s and 40s stood at 12.27 million in the January-August period, down a sharp 152,000 from a year earlier.

(Yonhap)

The decline is the biggest since 2009 when the number of South Korean employees in their 30s and 40s fell by 247,000.

South Korea has been suffering from sluggish employment for months due to an economic slowdown and protracted corporate restructuring of labor-intensive manufacturing sectors like shipbuilding and the auto industry.

Since May, the government has been implementing a 3.9 trillion-won ($3.69 billion) extra budget largely to create jobs. (Yonhap)

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Employment of people in 30s, 40s suffers biggest decline in nine years

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