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/Yonhap News

The number of employed individuals rose by more than 180,000 last month, logging the largest gain in five months. Slumps in manufacturing and construction hiring also eased to some degree. However, youth employment declined for the 46th consecutive month, extending the protracted chill in the job market.

According to the August Employment Trends report released on the 9th by the National Data Agency, the employed population aged 15 and older totaled 29,151,000 last month, up 184,000 from the same month last year.

The scale of employment growth had narrowed from 206,000 in March to 74,000 in April, before contracting by 40,000 in May. The figure then rebounded with a 63,000 increase in June and continued to expand through July (108,000) and August. Last month's gain marked the largest since March, reaching a five-month peak.

The employment-to-population ratio for those aged 15 and older stood at 63.3%, unchanged from the same month last year.

By industry, manufacturing payrolls fell by 38,000 from a year earlier, contracting for the 26th straight month. Construction payrolls also shrank by 32,000. Nonetheless, both industries saw their margins of decline narrow compared to the previous month, signaling an easing in their recent downturns.

In contrast, employment in accommodation and food services, a key gauge of domestic consumption, dropped by 61,000, recording its steepest fall in 13 months. The agency explained that base effects resulting from last year's distribution of consumer relief vouchers influenced the decline.

The youth labor market remained stagnant. The number of employed people aged 15 to 29 dropped by 143,000 from a year earlier, marking 46 consecutive months of decline. While the rate of contraction slowed from the previous month, the youth employment rate fell 1.0 percentage point to 44.1%, continuing its downward trend for a 28th straight month.

Total unemployed persons stood at 588,000 last month, down 4,000 from a year earlier. The unemployment rate was 2.0%, holding steady with the same month last year.

The economically inactive population rose by 77,000 to 16,297,000. However, the number of people categorized as taking a rest—those who stayed out of work without seeking employment—fell by 89,000 from the same month last year.

                                                                                                            Lee Ji-hoon