South Korea added 193,000 jobs in October, bringing the total employed to 29.04 million, but youth employment declined sharply. Manufacturing and construction sectors continued to lose positions, while hiring among older adults drove the overall gains. Officials noted ongoing challenges for young job seekers.
According to government data, South Korea's number of employed people reached 29.04 million in October, up 193,000 from a year earlier. This continues the recovery trend after a net loss of 52,000 jobs in December last year, with the labor market adding 245,000 jobs in May, 183,000 in June, and 312,000 in September this year.
However, the manufacturing sector lost 51,000 jobs, marking its 16th consecutive month of decline, while construction shed 123,000 jobs for the 18th straight month. Manufacturing is often seen as the backbone of the South Korean economy.
Overall job growth was mainly driven by older adults, with employment among those aged 60 and older surging by 334,000. Jobs for people in their 30s rose by 80,000. In contrast, the 15-29 age group saw a drop of 163,000 jobs, and the employment rate fell 1 percentage point to 44.6 percent, extending the decline for 18 months.
"More recruitment for experienced positions and ad hoc recruiting tend to disadvantage young job seekers," Gong Mi-sook, a ministry official, told reporters. "Weakness in the manufacturing sector, which mostly employs young people, is also having an impact."
The number of economically inactive people increased by 38,000 to 16.12 million. Among them, those out of work simply to rest rose by 135,000 to 2.58 million. Notably, the figure for people in their 30s citing rest climbed by 24,000 to 334,000, the highest since records began. "Overall, employment and labor force participation rates among people in their 30s remain relatively solid," Gong said. "However, while the number of people citing child care or housework as reasons for inactivity has declined, more are saying that they are simply taking a rest."
