South Korean government prepares support for vulnerable groups in the labor market
The South Korean government plans to strengthen measures to overcome employment difficulties among vulnerable population groups, particularly young people. This was reported by The Korea Herald, citing the country’s Ministry of Economy and Finance.
Employment growth
The plans were presented during an interagency meeting of the job creation task force. According to the latest official data, the number of employed people in the country increased by 184,000 in August compared with the same month of the previous year. This was the largest increase in five months.
The ministry said employment growth exceeded 180,000 for the first time since the start of the war in the Middle East. At the same time, labor market difficulties persist for young people, as well as in manufacturing, construction, agriculture and fisheries.
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Youth employment
The employment rate among people aged 15 to 29 stood at 44.1% in August, down by one percentage point from a year earlier. The decline has continued for the 28th consecutive month.
The ministry also expressed concern that escalating tensions in the Middle East could negatively affect job creation in the future. The government plans to carefully prepare job-creation projects included in the 2027 budget proposal and create more public-sector jobs through interagency cooperation.
