Manufacturing Industry Sees 4th Consecutive Month of Employment Insurance Subscriber Decline... Job-Seeking Allowance Applications Near 100,000

Ministry of Employment Announces 'December 2019 Labor Market Trends'
Manufacturing Employment Insurance Subscribers Decrease by 17,000
96,000 Apply for Unemployment Benefits...155,000 in Manufacturing Sector

[Asia Economy Reporter Kim Bo-kyung] In December last year, the number of manufacturing industry employment insurance subscribers decreased for four consecutive months for the first time ever. Due to the cold wave in manufacturing employment, the number of new job-seeker benefit applicants approached 100,000.

According to the "December 2019 Labor Market Trends" announced by the Ministry of Employment and Labor on the 13th, the number of employment insurance subscribers in December last year was 13,841,000, an increase of 428,000 compared to the same month of the previous year.

The number of employment insurance subscribers showed an increase of over 500,000 from January to September last year but slowed to the 400,000 range from November. In December, the increase in subscribers also decreased by 50,000 compared to the previous month.

By industry, the service sector increased by 434,000, while manufacturing decreased by 17,000. The number of manufacturing employment insurance subscribers has been declining for four consecutive months since September last year. This is the first time since statistics have been compiled. The fact that the decrease is growing larger is also a problem. The decrease was 7,000 (September), 8,000 (October), 13,000 (November), and 17,000 (December), showing a growing trend.

In manufacturing, automobiles (-10,000) and machinery equipment (-5,000) decreased, while shipbuilding (other transportation equipment, 5,000) and semiconductors (3,000) increased.

In the service sector, increases were maintained in health and welfare (135,000), accommodation and food services (66,000), and professional scientific technology (47,000).

The number of employment insurance subscribers increased mainly among women (270,000) and the elderly aged 60 and over (193,000, 13.2%). Among all age groups, only those in their 30s decreased (-18,000, -0.5%). In their 30s, manufacturing decreased by 30,200 and construction by 9,200 respectively.

In workplaces with fewer than 300 employees, the number increased by 218,000 (2.2%), and in workplaces with 300 or more employees, it increased by 210,000 (5.7%). A Ministry of Employment and Labor official stated, "Due to the effects of programs such as Durunuri and Job Stability Funds, the number of workers in workplaces with fewer than 30 employees increased the most."

The number of new job-seeker benefit applicants in December last year rose to 96,000, nearly reaching 100,000. By industry, manufacturing had the highest number of applicants at 15,500, followed by construction at 14,800 and wholesale and retail at 10,200.

The total number of job-seeker benefit recipients was 419,000, with benefit payments amounting to 603.8 billion won, and the average benefit amount per payment was 1,346,000 won.

This content was produced with the assistance of AI translation services.