Total employment up for 13th consecutive month, by 831,000

Job openings are posted at a job center in Seoul on Wednesday. [YONHAP]

Total employment grew by 831,000 in March from the same month a year earlier, up 3.1 percent on year, according to Statistics Korea Wednesday.

The number of people employed has increased year-on-year for 13 consecutive months.

Manufacturing led, while services trailed due to the high number of Omicron cases.

The jobs report, announced Wednesday, is the last made under the Moon Jae-in administration.

In March, 27.7 million people had jobs, and the unemployment rate was 3.0 percent, down a full percentage point on year. The seasonally-adjusted rate was 2.7 percent, matching February's rate, which was the lowest reading since the data were first compiled in 1999.

The number of unemployed was 875,000, down 342,000, while the employment rate hit 61.4 percent.

"Overall indexes have improved steadily," Finance Minister Hong Nam-ki said of the jobs report Wednesday.

The country added 251,000 health and social welfare jobs, a 10.3 percent increase.

In manufacturing, an additional 100,000 people were employed, 2.3 percent more. It is the biggest jump in 4 years.

"Job numbers have increased for 13 consecutive months largely due to robust exports and the non-contact and digitalization of industry," said Kong Mi-sook, a Statistics Korea official.

A total of 32,000 positions were lost in wholesale and retail, and 20,000 at hotels and restaurants, the first decline for these businesses in 3 months.

In March, self-employed businesses added 39,000 jobs.

Employment increases were observed in all age groups.

A total of 258,000 more people in their 50s were employed, 21,000 more people in their 40s, 43,000 more people in their 30s and 177,000 more people 15 to 29.

"Most of the job increases are in the private sector," Hong said.

The Finance Minister noted that the increase in the number of jobs over the past five years came in the context of a falling population and the pandemic.

"Over the past five years, 1.27 million jobs have been created," Hong said. "It is an achievement of the current administration."

He raised concerns about increasing uncertainties.

"While it seems we have passed the peak of Covid-19, the contagious virus spread continues," Hong said. "Amid increasing inflationary pressures, major Chinese cities have been on lockdown."

BY LEE HO-JEONG [lee.hojeong@joongang.co.kr]

BY LEE HO-JEONG [lee.hojeong@joongang.co.kr]