The government said it will spend 1.5 trillion won ($1.3 billion) this year to create 240,000 jobs for young people. This is in addition to 4.4 trillion won already earmarked to create 794,000 jobs.
According to Statistics Korea on Wednesday, 25.8 million people were employed in January — a decline by 982,000, or 3.7 percent, from a year earlier. The number of unemployed people jumped 36 percent to reach 1.57 million.
While the number of jobs in the public sector increased by over 6 percent in 2019, the number of jobs in the private sector increased only 2 percent.
Losing a job is tough. Applying for unemployment benefits is no picnic either.
In the pandemic-hit job market, job losses are not the only issue — more Koreans are now barely making ends meet as part-time workers.
Last year 218,000 fewer people were employed in Korea compared to 2019, the biggest decline in more than two decades since the IMF crisis of the late 1990s.
According to Statistics Korea on Wednesday, 27.2 million people were employed in Korea in November, 273,000 fewer than a year earlier. In 2009, job shrinkages continued for eight consecutive months between January and August.
Koreans are underpaid, stuck at home and awash in trash as the pandemic tests the country, early statistics suggest, while trains and buses are running with fewer passengers.
Korea added around 600,000 jobs in 2019 mainly on the back of a rise in job positions in the public sector and social welfare service segment, data showed Thursday.
Seven out of 10 Korean office workers suffered burnout over a one-year period, according to a recent report.