Bin Hyun-joon, chief of the social statistics bureau at the Ministry of Data and Statistics, holds a press conference at the government complex in Sejong, South Korea. Photo by YONHAP / EPA
May 13 (Asia Today) — South Korea’s employment rate fell for the first time in 16 months in April as hiring growth slowed amid higher oil prices, weaker consumer sentiment and continued external uncertainty tied to the Middle East war.
The number of employed people aged 15 and older stood at 28.96 million in April, up 74,000 from a year earlier, according to employment data released Wednesday by Statistics Korea.
The increase was the smallest since December 2024 and the first time this year that job growth fell below 100,000.
The employment rate fell 0.2 percentage point from a year earlier to 63.0%, marking its first decline in 16 months.
Youth employment remained weak. The number of employed people aged 15 to 29 fell by 194,000 from a year earlier to 3.42 million, extending its decline for a 42nd consecutive month since November 2022.
The youth employment rate dropped 1.6 percentage points from a year earlier, marking its 24th straight month of decline.
By industry, wholesale and retail jobs fell by 52,000 from a year earlier, while accommodation and food service jobs declined by 29,000. Manufacturing employment dropped by 55,000.
Officials attributed the slowdown to weaker consumer sentiment and continued external uncertainty related to the prolonged Middle East war. Transportation and warehousing jobs, which are sensitive to oil prices, rose by 18,000, but the pace of growth slowed.
Agriculture, forestry and fisheries employment fell by 92,000 amid population aging, while professional, scientific and technical services dropped by 115,000 because of a high base from last year.
Health and social welfare service jobs increased by 261,000, supported by rising care demand and government-backed direct job programs for older people.
“Employment gains were led by health and welfare services, arts, sports and leisure, and real estate,” said Bin Hyun-joon, head of social statistics at Statistics Korea. “By age group, employment increased among people aged 60 and older and those in their 30s, but the pace of growth slowed from the previous month.”
— Reported by Asia Today; translated by UPI
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Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260513010003376