Accommodation and Food Service Employment Insurance Subscribers Decrease by 12,000... Public Administration Decline Doubles

Total Subscribers Increase by 390,000... '30s' Age Group Grows for the First Time in 24 Months

Unemployment Benefits Payment Falls Below 1 Trillion Won for the First Time in 8 Months

[Image source=Yonhap News]

[Sejong=Asia Economy Reporter Moon Chaeseok] Due to the impact of the fourth wave of COVID-19, the number of employment insurance subscribers in the accommodation and food service industries decreased by 12,000 last month. The number of employment insurance subscribers in public administration, which includes participants in government and local government job projects, decreased by 83,000.

According to the labor market trends for September announced by the Ministry of Employment and Labor on the 12th, the number of employment insurance subscribers in the accommodation and food service industries was 647,000 last month, down 12,000 (1.8%) compared to the same month last year. The decline narrowed compared to -2.8% in August. The number of employment insurance subscribers in the transportation industry also decreased by 4,000. The Ministry of Employment and Labor explained, "Due to compliance with quarantine guidelines and a decrease in foreign tourists, difficulties continued in the accommodation, food service, and transportation industries." The number of employment insurance subscribers in public administration decreased by 83,000. This is seen as a base effect reflecting an increase of 181,000 compared to the previous year in September last year.

The total number of employment insurance subscribers was 14,518,000, an increase of 390,000 (2.8%) compared to the previous year. Subscribers increased in health and welfare by 118,000 (6.7%), publishing, communication, and information by 64,000 (9.7%), among others. The number of manufacturing subscribers was 3,610,000, up 89,000 (2.5%) compared to the same month last year. Combining manufacturing and service industries, the number of subscribers was 13,625,000, an increase of 360,000 (2.7%) from 13,265,000 a year earlier. This breaks the 400,000 mark for the first time in six months.

By age group, the increase in subscribers in their 30s after 24 months is notable. The number of subscribers in their 30s increased by 2,000 compared to the same month last year. The Ministry of Employment and Labor explained, "The decrease in subscribers in accommodation, food service, and manufacturing industries narrowed for those in their 30s, and the increase in health and welfare expanded, resulting in an overall increase in subscribers." Subscribers also increased among those aged 60 and over (155,000), 50s (121,000), 40s (32,000), and under 29 (80,000).

The amount paid last month for job-seeking benefits, which are paid from the employment insurance fund to support the job search activities of the unemployed, was 975.4 billion won, down 190.9 billion won (16.4%) compared to the same month last year. The number of job-seeking benefit recipients was 612,000, a decrease of 86,000 (12.3%).

The labor market trends announced monthly by the Ministry of Employment and Labor are based on results targeting regular and temporary workers among employment insurance subscribers. Special employment types (teukso), freelancers, self-employed, and ultra-short-time workers are excluded.

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