Employment Insurance Subscribers Rise by Over 200,000 for Second Consecutive Month... Youth, Manufacturing, and Construction Sectors Remain Sluggish

Labor Market Trends Based on Employment Administrative Statistics by the Ministry of Employment and Labor

Manufacturing Down for 9 Months, Construction Down for 31 Months in a Row

The number of regular employment insurance subscribers in February this year continued to increase by over 200,000 for the second consecutive month. While overall indicators improved primarily due to job growth in the service sector, a significant portion of the increase was concentrated among older workers and in specific fields such as healthcare and welfare, leading to ongoing concerns about the quality of employment.

According to the “Labor Market Trends Based on Employment Administrative Statistics for February 2026,” released by the Ministry of Employment and Labor on March 16, the number of regular employment insurance subscribers at the end of last month stood at 15,639,000, up by 258,000 (1.7%) compared to the same month last year. The monthly increase remained above 200,000 for the second month in a row.

By industry, the service sector led the overall growth with an increase of 269,000. Most service-related industries saw job growth, including healthcare and welfare (117,000), accommodation and food services (52,000), business services (29,000), and professional, scientific, and technical services (20,000). Wholesale and retail also saw a wider increase after shifting to growth the previous month.

On October 13, a job posting was displayed on the bulletin board of an employment center in Seoul, showing that the number of employed people increased by 83,000 compared to the same month last year, dropping below 100,000 for the first time in four months. Photo by Jinhyung Kang

Although the number of employment insurance subscribers in manufacturing and construction declined for the ninth and thirty-first consecutive months, respectively, the rate of decrease eased in both sectors. Last month, manufacturing subscribers numbered 3,843,000, a decline of 3,000 (-0.1%), and construction subscribers totaled 744,000, down by 10,600. However, within manufacturing, sectors such as electronics and telecommunications (including semiconductors) and other transportation equipment (including shipbuilding) saw job increases, resulting in a narrowing of the overall decline.

By age group, job gains continued to be driven by older workers. Subscribers aged 60 and over increased by 201,000 year-on-year, marking the largest gain. The number also rose among those in their 30s (89,000) and 50s (48,000). However, there was a decrease of 67,000 among those aged 29 or younger, and a decline of 12,000 among those in their 40s, indicating that employment remains sluggish among young and middle-aged workers.

Job-seeking benefits showed a different trend from the previous month. In February, the number of new applicants for job-seeking benefits was 87,000, a decrease of 30,000 from a year earlier, and the number of recipients dropped by 35,000 to 634,000. The total amount paid was 94.8 billion won, down by 12.48 billion won. This was attributed to a technical factor: the reduced number of working days at employment centers during the Lunar New Year holiday period.

Both job postings and job seekers through Employment24 declined. New job postings numbered 128,000, a drop of 45,000 from a year earlier, while new job seekers totaled 345,000, a decrease of 86,000. The job offer ratio was 0.37, lower than the 0.40 recorded in the same month last year.

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