Business · Economy · 15 hrs ago

Older workers drove South Korea’s regular job growth in Q3

Older workers drove South Korea’s regular job growth in Q3

South Korea had 16.84 million regular employees in the July-to-September quarter, up 167,628 from a year earlier.

Workers aged 60 and older accounted for 74.9% of the increase, adding 125,573 regular jobs.

They made up less than 14% of all regular employees, and the rise reflects South Korea’s aging population.

Regular employment among people in their 20s fell by 82,836, marking 15 straight quarters of decline.

The number of regular employees in their 30s also fell by 3,711, even though the population in that age group grew by 81,433.

A ministry survey in August found about 680,000 people in their 20s and 30s were not working and were resting.

The figures show that older workers are driving regular job growth while employment among younger people continues to weaken.

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