2nd Quarter Wage Worker Jobs Increase by 681,000... Jobs for 30s Decrease While Those for 60s Rise Sharply

2021 Q2 Wage Worker Job Trends

Source: Statistics Korea

[Sejong=Asia Economy Reporter Son Seon-hee] In the second quarter of last year, wage worker jobs increased by more than 680,000 compared to the same period last year. This is the largest increase since the first quarter of 2018 when related statistics began to be compiled, but jobs for people in their 30s, the "waist" of the labor market, decreased, while jobs for the elderly aged 60 and over increased significantly.

According to the "2021 Second Quarter Wage Worker Job Trends (as of May)" announced by Statistics Korea on the 25th, the total number of wage worker jobs in the second quarter was 19,577,000, an increase of 681,000 compared to the same period last year. This is the largest increase in nearly four years since the first quarter of 2018 when related statistics were compiled. However, a Statistics Korea official explained, "There is also a base effect due to the low increase in the number of wage worker jobs in the second quarter of last year caused by the COVID-19 pandemic."

Source: Statistics Korea

Although the total number of wage worker jobs increased significantly, looking at the age groups, jobs for people in their 30s, considered the core waist group of the labor market, actually decreased by 17,000. Among all age groups, the 30s were the only group where jobs decreased.

Jobs for people in their 30s decreased by 38,000 in manufacturing alone, and jobs also disappeared in construction (-6,000), business and rental (-6,000), among others.

The age group with the largest increase in wage worker jobs was those in their 60s, with a total increase of 392,000 jobs. In the health and social welfare sector alone, jobs increased by 137,000, and increases were also seen in construction (52,000), manufacturing (49,000), and others. This was followed by those in their 50s (173,000), under 20s (78,000), and 40s (55,000).

During the same period, by gender, jobs increased by 245,000 for men and 435,000 for women.

By industry, the health and social welfare sector saw a total increase of 192,000 wage worker jobs. This is analyzed as an effect of increasing jobs in related fields to respond to the COVID-19 pandemic.

Although the total number of jobs increased, the accommodation and food service industry, which was heavily impacted by the COVID-19 pandemic, saw a decrease of 9,000 jobs in the second quarter, indicating ongoing difficulties. However, the decrease was less severe compared to the previous quarter (-72,000).

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