• S. Korea Posts Largest Job Growth In Nearly 7 Years In April
(Image: Yonhap News)


South Korea reported the largest job growth in almost seven years in April.

The number of employed people reached 27.2 million last month, up 652,000 from a year earlier, according to data released by Statistics Korea.

It marked the largest on-year jump since August 2014, when the number of employed rose by 670,000.

The figures indicate the local job market is recovering from a yearlong slump caused by COVID-19.

The country recorded job losses for 12 straight months in February before the number of working people increased by 314,000 on-year in March.

According to the agency, the base effect and increased economic activity following relaxed social distancing rules helped create more jobs amid an economic recovery.

The number of unemployed people came to 1.15 million last month, down 25,000 from the previous year.

The jobless rate fell 0.2 percentage point on-year to 4 percent last month, but the unemployment rate for young adults aged between 15 and 29 remained high, rising 0.7 percentage point on-year to 10 percent in April.

The government said the number of employed people is expected to grow 150,000 this year.

President Moon Jae-in said on Monday the government would also make efforts to prompt the economy to grow at least 4 percent this year.

Last year, the Korean economy contracted 1 percent amid pitfalls brought on by the global pandemic.





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