Employment Indicators Recovering in Gyeongbuk Region... "Employment Situation Still Challenging"

Statistics Korea: Gyeongbuk July Employment Rate Indicator at 62.3%, Same Level as Last Year
Gyeongbuk Province "Focusing More on Specifying Post-Corona Economic Policies"

The left side shows the number of employed persons in Gyeongbuk (thousands), and the right side shows the employment rate (%) indicator in Gyeongbuk.

[Asia Economy Yeongnam Reporting Headquarters Reporter Park Dong-wook] Employment indicators in the Gyeongbuk region hit a low point in March but began to recover from May, reaching levels close to the previous year by July.

According to the 'July Gyeongbuk Employment Trends' released by the Northeast Regional Statistics Office on the 12th, the number of employed persons in July was 1,445,000, a decrease of 2,000 compared to the same month last year. During the four months from March to June, when the employment market was contracted due to the novel coronavirus infection (COVID-19), the number of employed persons decreased by an average of about 22,000 per month, but the employment figure in July was similar to that of the same month the previous year.

The employment rate in Gyeongbuk was 62.3%, down 0.1 percentage points compared to the same month last year. This is 1.8 percentage points higher than the national employment rate of 60.5%, ranking sixth highest among the 17 metropolitan cities and provinces.

The economically active population was 1.51 million, an increase of 12,000 compared to the same month last year. Despite the difficult conditions caused by the group outbreaks of COVID-19, Gyeongbuk Province evaluates that the employment situation is gradually improving as a result of active and diverse support measures and economic policies implemented together with the government.

Since March, Gyeongbuk Province has proactively implemented 'COVID-19 Overcoming Economic Revitalization Measures,' including interest-free special management funds of 2 trillion won for small business owners and SMEs, payments of 500,000 to 1 million won to small business owners whose sales declined due to COVID-19, online marketing for SME products, and special support projects for regional employment response.

Kim Ho-jin, Director of the Job Economy Office of Gyeongbuk Province, emphasized, "It is encouraging that regional employment indicators are improving, but the local employment situation remains difficult. We will focus more on the stable progress of COVID-19 damage support projects and the concretization and preparation for the implementation of post-COVID economic policies."

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