Last Year's Q3 Wage Worker Jobs Increased by 635,000... 44% Are 'Aged 60 and Over'

Statistics Korea, Wage Worker Job Trends in Q4 2019

[Sejong=Asia Economy Reporter Joo Sang-don] In the third quarter of last year, wage worker jobs increased by 635,000, expanding the growth compared to the previous second quarter. However, more than 40% of the newly created jobs were for those aged 60 and over.

According to the 2019 third quarter wage worker job trend announced by Statistics Korea on the 27th, the total number of wage worker jobs was 18,739,000, an increase of 635,000 compared to the same period last year. This is larger than the increase of 464,000 in the previous second quarter.

Jobs are a different concept from employed persons and refer to the employment positions occupied by workers. For example, if one person works at a company during the week and works as an academy instructor on weekends, the number of employed persons is one, but the number of jobs is calculated as multiple (weighted by the number of working days).

The increased jobs were concentrated among those in their 50s and 60s or older. Jobs for those aged 60 and over increased by 231,000 and 280,000 respectively. The share of the increase accounted for by those in their 50s was 36.4%, and those aged 60 and over accounted for 44.1%. On the other hand, those in their 40s, who have the highest proportion of total jobs (24.7%), only increased by 34,000 (0.7%).

By industry, business and rental sectors decreased in business support services (-12,000) and business facility management (-5,000). Health and social welfare increased in social welfare services (112,000) and health services (54,000). Wholesale and retail also increased in wholesale trade (40,000) and retail trade excluding automobiles (37,000). Construction increased in specialty construction work (30,000) and general construction (2,000).

The manufacturing industry, which has the largest share of jobs, slightly increased by 3,000 from a declining trend, with increases in food products (21,000) and chemical products (5,000).

The increase was steeper for women than men. Compared to the same period last year, jobs for men increased by 265,000 and for women by 369,000. The share of total jobs was 58.4% for men and 41.6% for women.

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