360,000 SME Temporary Layoffs Due to Business Slump and Work Suspension
710,000 Temporary Leave Workers in Small and Medium Enterprises
[Asia Economy Reporter Kim Cheol-hyun] It has been found that the number of temporary leave workers in small and medium-sized enterprises (SMEs) due to business downturns or suspension of operations has reached 360,000. This accounts for half of all temporary leave workers in SMEs.
According to the Small and Medium Business Research Institute and Statistics Korea on the 9th, as of September this year, the number of temporary leave workers in SMEs with fewer than 300 employees due to business downturns or suspension of operations was counted at 357,000. This is an increase of 314,000 compared to the same period last year and represents 50.1% of the 712,000 temporary leave workers in SMEs. The increase compared to the previous year has expanded significantly again, following 293,000 in June, 290,000 in July, and 198,000 in August.
Among these, the number of temporary leave workers due to business downturns or suspension of operations in small businesses with 1 to 4 employees was 154,000, an increase of 122,000 compared to last year. Temporary leave workers in companies with 5 to 299 employees numbered 202,000, an increase of 192,000 compared to the previous year. This contrasts with the 8,000 temporary leave workers in large enterprises with 300 or more employees due to business downturns or suspension of operations in September.
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Compared to last year, the noticeable increase in temporary leave workers in SMEs this year is analyzed to be due to the spread of the novel coronavirus infection (COVID-19). SMEs in face-to-face industries such as accommodation, food service, and sales services have been severely impacted by social distancing measures, leading employees to choose temporary leave. An industry official said, "Depending on the COVID-19 situation, there could be an increase in temporary leave workers in SMEs at any time," adding, "If the situation worsens to closures, temporary leave workers could become unemployed."
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