500,000 Increase in Business Workers in January... Real Wages Rose 2% Last Year

As of January this year, the total number of employees in all businesses was 18,879,000, an increase of 500,000 (2.7%) compared to the same month last year. Due to the base effect of the decrease in the number of employees last year caused by the spread of COVID-19, the number of employees has shown an increasing trend for 11 consecutive months.

According to the results of the business labor force survey announced by the Ministry of Employment and Labor on the 28th, the total number of employees in all businesses as of the last business day of last month was 18,879,000. The number of regular workers increased by 264,000 (1.7%), and temporary and daily workers increased by 239,000 (14.5%).

By industry, the number of employees increased in the order of health and social welfare services (6.1%), accommodation and food services (6.9%), and professional, scientific, and technical services (6.3%). On the other hand, construction (-0.9%) and finance and insurance (-0.4%) showed a decline.

The number of employees in accommodation and food service businesses, which were severely affected by the spread of COVID-19, was 1,119,000, an increase of 72,000 compared to the same month last year. Although it recorded a negative growth for 21 consecutive months from February the year before last to October last year, it has shown an increasing trend for the last three months.

Among manufacturing industries, the number of employees increased significantly in electronic components, computers, video, audio, and communication equipment manufacturing, other machinery and equipment manufacturing, and chemical substances and chemical products manufacturing. However, the number of employees decreased in automobile and trailer manufacturing, apparel, accessories and fur products manufacturing, and textile products manufacturing.

The number of new hires was 1,108,000, an increase of 86,000 (8.5%) compared to the same month last year, and the number of job changers was 1,139,000, an increase of 47,000 (4.3%).

Last month, the number of hires was 936,000, with regular positions increasing by 46,000 (11.3%) and temporary and daily positions increasing by 78,000 (19.0%). The industries with increases were accommodation and food services, and health and social welfare services, while the industries with decreases were construction, transportation, and warehousing.

In December last year, the total wage per employee in businesses with one or more regular workers was 4,305,000 KRW, an increase of 7.5% compared to the same month last year. The total wage for regular workers was 4,576,000 KRW, up 7.8%, and for temporary and daily workers, it was 1,753,000 KRW, up 2.8%.

The industries with the highest total wages were electricity, gas, steam, and air conditioning supply (8,911,000 KRW), followed by finance and insurance (8,568,000 KRW).

The average monthly total wage per worker last year was 3,689,000 KRW, an increase of 4.6% compared to the previous year. The average monthly real wage, reflecting the price level, was 3,599,000 KRW, an increase of 2.0%. Compared to the nominal and real wage growth rates of 1.1% and 0.5% in 2020, the increase this year has expanded.

In December last year, the average working hours per employee in businesses was 172.4 hours, an increase of 5.6 hours (3.4%) compared to one year earlier.

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