COVID-19-Driven 'Temporary Leave' Hits 10-Year High

February Employment Trends

Temporary leave workers increased by 142,000

Record high new employment for those aged 60 and over; employment sluggishness in 40s persists

[Image source=Yonhap News]

[Sejong=Asia Economy reporters Kim Hyunjung and Joo Sangdon] In February this year, the number of 'temporary leave workers' increased by more than 140,000 compared to the same period last year. This is the largest increase in the past 10 years. The rise in temporary leave workers is a result of the spread of the novel coronavirus infection (COVID-19). The number of new employed persons aged 60 and over reached an all-time high, leading overall employment.

According to the employment trends for February announced by Statistics Korea on the 11th, the number of employed persons last month was 26,838,000, an increase of 492,000 compared to one year ago. This marks the third consecutive month with an increase of over 400,000 following December last year and January this year.

This employment trend partially reflects the impact of COVID-19. The number of temporary leave workers was 618,000, an increase of 142,000 (29.8%) compared to the same month last year. This is the largest increase since February 2010 (155,000). Temporary leave workers refer to employed persons whose employment status is maintained regardless of income. Eun Soonhyun, Director of the Social Statistics Bureau at Statistics Korea, explained, "The sharp increase in temporary leave workers is understood to be due to the impact of COVID-19," adding, "The population on leave also increased by 191,000 (8.8%), which is considered to be mixed with the effects of COVID-19."

The spread of COVID-19 also slowed the increase in employment in the 'accommodation and food service industry.' New employed persons increased by only 14,000, a 0.6% rise compared to the same month last year. On the other hand, as parcel delivery usage increased, employment in transportation and warehousing rose by 99,000 (7.0%).

The impact of COVID-19 is expected to be fully reflected in the March employment trends. Deputy Prime Minister and Minister of Strategy and Finance Hong Namki expressed concern, saying, "(The February employment trend) was surveyed before COVID-19 spread in earnest, so the future is crucial," and "From the March employment indicators, the impact of COVID-19 will become visible, and the downside risk to employment is expected to expand."

Employment sluggishness among those in their 40s, the backbone of the economy, and the concentration of new employment among those aged 60 and over persisted. Employment among people in their 40s decreased by 104,000, lowering the employment rate by 0.5 percentage points. For those aged 60 and over, new employment reached 570,000, the largest increase since monthly employment statistics began in July 1982.

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