Korea’s factory jobs in March on rise for the first time in four months

2017.04.10 17:34:13 | 2017.04.10 17:34:51
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The number of manufacturing jobs in South Korea rebounded for the first time in four months in March thanks to robust overseas demand in electronics component and cosmetics.

According to data released by the Ministry of Employment and Labor on Monday, the number of employed in the nation’s manufacturing segment reached 3,576,000 in March, up 2,200 from the same period last year. The manufacturing workforce had been shrinking since December.

The improvement in exports, mostly semiconductors, display panels and cosmetics, added factory jobs, said Yang Hyun-soo, employment and labor ministry official.

Payroll in chemical factory lines increased 78,000 on year in March as cosmetics exports continued double-digit growth.

The employed tally in shipping and equipment manufacturing decreased 38,000 on year due to ongoing restructuring at shipbuilders amid industry slump. About 61 percent of the redundant workforce was 40 years old or younger.

The services sector continued to add jobs. Health and welfare sector increased 66,400 jobs while wholesale and retail sector added 62,400. The employed number in accommodation and restaurant rose 46,300

The total number of employed expanded by 335,000 on year to reach 12.68 million in March, the second consecutive month the on-year gain stayed above 300,000 threshold.

By Na Hyun-joon

[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]

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