Korea posts biggest job growth in a year in September
Job creation accelerated last month when the employment rate for people in their 20s grew for the first time in 17 months.
Statistics Korea said Wednesday that more than 25 million were employed in September, up more than 460-thousand from the previous year.
The September jobs numbers also reflect the largest gain in 12 months, when more than 680-thousand new positions were added to the economy.
The employment rate for people between the ages of 15 and 64 edged up 0.5 percentage points to 65 percent in September, a healthy figure by international standards but still below the current administration's target of 70 percent.
The agency said that a rise in regular, or salaried, workers and a decline in the number of self-employed people had helped boost job creation by more than 400-thousand jobs per month for two straight months.
By sector, the health and social welfare services added the most jobs, at over 172-thousand in September from a year earlier, followed by the accommodations and restaurant businesses.
In probably the most significant development, new jobs created for people in their 20s totaled 36-thousand, representing the first growth since April last year.
Despite the added jobs, however, labor market conditions remain sluggish for the youth group.
The jobless rate for people aged 15 to 29 stood at 7.7 percent in September, compared with the nation's overall jobless rate of 2.7 percent.
The job data is in line with the government's projection that the nation's economy is on track for steady recovery.
The Korean economy grew 1.1 percent in the second quarter of this year from the previous quarter, rising above one percent for the first time in more than two years.
Shin Se-min, Arirang News.