Hong Nam-ki: "Number of Employed Persons Recovers to 100.2% Compared to Pre-COVID Peak"

Presiding Over the Ministerial Meeting on the 12th

Deputy Prime Minister and Minister of Economy and Finance Hong Nam-ki is presiding over the meeting of related ministers (Green Room meeting) on the 12th at the Government Seoul Office in Gwanghwamun, Seoul, discussing and reviewing the employment market situation with the main topic of the 'December 2021 and Annual Employment Trends.'

[Sejong=Asia Economy Reporter Kim Hyunjung] Hong Nam-ki, Deputy Prime Minister and Minister of Economy and Finance, announced on the 12th that the number of employed persons last year has recovered to the pre-COVID-19 peak.

The Ministry of Economy and Finance stated that Deputy Prime Minister Hong made this assessment during a meeting of related ministers (Green Room Meeting) held at the Government Seoul Office that morning, attended by the Minister of Employment and Labor, the Director of the Office for Government Policy Coordination, the Commissioner of Statistics Korea, and the Senior Secretary for Jobs.

The attendees highlighted the annual employment trends announced by Statistics Korea on the same day, noting that ▲ the annual number of employed persons increased by 370,000, recovering 100.2% compared to the pre-pandemic peak, ▲ employment in manufacturing increased for two consecutive months, leading the private sector's employment recovery, ▲ employment rates across all age groups rose for five consecutive months, with improvements in youth employment numbers, employment rates, and unemployment rates, and ▲ the accommodation and food service industry turned to growth, and self-employed persons with employees increased for the first time in 37 months.

The Ministry of Economy and Finance explained, "Despite the recovery of employment numbers to pre-crisis levels and clear improvements in key indicators, all attendees were acutely aware of the recovery gaps among affected industries and groups," adding, "Since strengthened social distancing measures will continue into January, they agreed to closely monitor uncertainties in the employment market going forward."

The government plans to continue and strengthen support for affected groups while intensifying policy efforts to achieve a full recovery of both the quantity and quality of employment beyond pre-crisis levels.

The Ministry of Economy and Finance stated, "We will focus policy support to alleviate difficulties faced by small business owners and self-employed persons due to strengthened social distancing measures, and actively support job recovery for vulnerable sectors and groups such as youth and women," adding, "We will also accelerate the establishment of a multilayered employment and social safety net, including the solidification of the National Employment Support System and the implementation of the ‘Universal Employment Insurance Roadmap.’"

Furthermore, "To sustain and strengthen the private sector-led job recovery so far, we will reinforce the foundation for creating quality private sector jobs through regulatory innovation, startup support, and fostering future promising industries," the ministry elaborated, "We will build labor transition infrastructure and fully implement fair labor transition support measures in response to industrial structural changes such as carbon neutrality and new industry transformation."

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