South Korea added 234,000 jobs in February, marking the fastest on-year growth in five months, though youth employment slumped and construction losses persisted. Youth unemployment for ages 15-29 reached 7.7 percent, the highest for any February since 2021. The total number of employed people rose 0.8 percent to 28.41 million, per Ministry of Economy and Finance data.
Data released Wednesday by Statistics Korea showed South Korea added 234,000 jobs in February, with the number of employed people rising 0.8 percent from a year earlier to 28.41 million. This rebound followed slower gains of 225,000 in November, 168,000 in December, and 108,000 in January, marking the fastest on-year growth in five months and the largest since 312,000 in September 2024. Despite the overall increase, manufacturing lost 16,000 jobs, extending its downturn to the 20th consecutive month, while construction shed 40,000 jobs for the 22nd straight month. Youth employment for ages 15-29 fell by 146,000, the 22nd month of decline, pushing the unemployment rate to 7.7 percent—the highest for February since 10.1 percent in 2021. Employment for those aged 60 and older rose by 287,000. The health care and social welfare sector led gains with 288,000 jobs added, up 9.4 percent, followed by transportation and warehousing with 81,000 and arts, sports, and leisure services with 70,000. Economically inactive people decreased by 39,000 to 16.54 million, though those not working simply to rest increased by 27,000 to 2.72 million.
