Government, Deputy Prime Minister Hosts Meeting in Green Room... "Addressing Challenges in Vulnerable Industries and Expanding Employment"
Holding of the Meeting of Relevant Ministers on the 15th
[Asia Economy Reporter Jang Sehee] The government is addressing the difficulties faced by vulnerable industries and groups related to the 4th wave of COVID-19. Additionally, it has decided to continue policy support to expand the employment recovery trend.
On the morning of the 15th, the government held a meeting of related ministers (Green Room Meeting) at the Government Seoul Office, chaired by Deputy Prime Minister and Minister of Economy and Finance Hong Nam-ki, to review the employment market situation and discuss response directions.
Regarding employment in August, they emphasized, "Despite the difficult conditions as the 4th wave of COVID-19 fully spread, the steady recovery trend has continued," and "The impact on industries with a high proportion of face-to-face services was not as significant compared to previous waves." They also positively evaluated ▲more than 100,000 increase in youth employment for six consecutive months ▲more than 300,000 increase in regular workers for five consecutive months.
According to the 'August 2021 Employment Trends' announced by Statistics Korea on the same day, the number of employed persons last month was 27,603,000, an increase of 518,000 compared to the same month last year. The increase was slightly smaller than the previous month (+542,000).
However, due to social distancing measures caused by COVID-19, the decrease in employment in face-to-face service industries was significant. The number of employed persons in wholesale and retail trade was 3,342,000, a decrease of 113,000. The number of employed persons in accommodation and food services decreased by 38,000 compared to the same period last year.
The government plans to promptly execute the Small Business Hope Recovery Fund, the Coexistence National Support Fund, and the Coexistence Consumption Support Fund to support recovery in COVID-19 affected sectors.
They aim to complete the payment of the Small Business Hope Recovery Fund and the Coexistence National Support Fund by September and are making thorough preparations to implement the Coexistence Consumption Support Fund in October.
They also plan to accelerate the execution of supplementary budget job projects and continue efforts to strengthen the employment safety net.
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Meanwhile, the meeting was attended by Minister of Employment and Labor Ahn Kyung-duk, Director of the Office for Government Policy Coordination Koo Yoon-chul, Commissioner of Statistics Korea Ryu Geun-kwan, and Senior Secretary for Economic Affairs Ahn Il-hwan.
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