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South Korea Adds 194,000 Jobs in April as Manufacturing Declines Deepen

While overall employment rises, traditional sectors like manufacturing, construction, and agriculture face steep job losses, driven by external pressures and environmental challenges.

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Overview

  • South Korea's total employment reached 28.89 million in April, with a net gain of 194,000 jobs compared to the previous year.
  • The manufacturing sector saw its sharpest annual job decline since 2019, losing 124,000 positions and marking 10 consecutive months of contraction.
  • Construction and agriculture sectors also struggled, shedding 150,000 and 134,000 jobs respectively, with agricultural losses linked to abnormal weather conditions.
  • Growth in public health, social welfare, and science and technology added 218,000 and 113,000 jobs respectively, offsetting losses in traditional industries.
  • Employment gains were driven by older workers, with 340,000 jobs added for those aged 60 and older, while jobs for workers in their 20s fell by 179,000.