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KLI Employment & Labor Brief No.91 (2019-06): Labor Market Assessment in the First Half and Labor Outlook for the Second Half of 2019
KLI Employment & Labor Brief No.91 (2019-06): Labor Market Assessment in the First Half and Labor Outlook for the Second Half of 2019
  • Table of Contents

    Table of Contents

    I. Overview of the Labor Market in the First Half of 2019

    II. Evaluation of the First Half of the 2019 Labor Market by Sector


    III. Employment Outlook for the Second Half of 2019

     

    Summary

    In the first half of 2019, the number of employed persons rose by 207,000 year-on-year, along with the growth in the employment rate by 0.1%p to 60.5%, and the increase in the unemployment rate by 0.2%p to 4.3%. However, following the trend of 2018, the employment slowdown has been continuing in 2019, especially among those in their 40s. For those in their late 20s, the employment slowdown started to materialize this year, and the number of part-time workers has been increasing rapidly. While the manufacturing industry has continued to experience the employment decline, especially among production workers, the service sector has seen some improvement in employment compared with the previous year. It is expected that the number of employed persons will increase by 221,000 in the second half of 2019 and by 214,000 annually in 2019, driven by the baseline effect of last year’s sluggish employment, an increase in the population of 15-64 years old, an increase in the number of jobs for the elderly, and some improvements in the service industry