Government to closely monitor job market amid renewed Middle East tensions
A job seeker visits an employment center in Seoul on Wednesday. South Korea will closely monitor sectors with sluggish employment, including manufacturing,…
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A job seeker visits an employment center in Seoul on Wednesday. (Yonhap) South Korea will closely monitor sectors with sluggish employment, including manufacturing, amid growing concerns that renewed tensions in the Middle East could weigh on the job market, the finance ministry said Thursday. Asia's fourth-largest economy shed 40,000 jobs in May, marking the first decline in 17 months. In June, manufacturing and construction shed 97,000 and 67,000 jobs, respectively, from a year earlier, marking the 24th and 26th consecutive months of job losses.
Furthermore, The Ministry of Finance and Economy held a joint task force meeting on the job market with the labor ministry in Seoul after data from the previous day showed South Korea adding 63,000 jobs from a year earlier in June. "The figure rebounded in June following growing hopes that uncertainties had eased after the peace negotiations between the United States and Iran," the finance ministry said. The finance ministry, however, said employment conditions for young people and the manufacturing sector remained sluggish, with the possibility of renewed tensions in the Middle East posing downside risks to the labor market.
In addition, South Korea will announce a comprehensive plan to create jobs for the youth within the third quarter, it added.
Cross-referenced from 2 sources.
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A job seeker visits an employment center in Seoul on Wednesday. (Yonhap) South Korea will closely monitor sectors with sluggish employment, including manufacturing, amid growing concerns that renewed tensions in the Middle East could weigh on the job market, the finance ministry said Thursday.
reliability low1/2 sourcesAsia's fourth-largest economy shed 40,000 jobs in May, marking the first decline in 17 months.
reliability low1/2 sourcesIn June, manufacturing and construction shed 97,000 and 67,000 jobs, respectively, from a year earlier, marking the 24th and 26th consecutive months of job losses.
reliability low1/2 sourcesThe Ministry of Finance and Economy held a joint task force meeting on the job market with the labor ministry in Seoul after data from the previous day showed South Korea adding 63,000 jobs from a year earlier in June.
reliability low1/2 sources"The figure rebounded in June following growing hopes that uncertainties had eased after the peace negotiations between the United States and Iran," the finance ministry said.
reliability low1/2 sourcesThe finance ministry, however, said employment conditions for young people and the manufacturing sector remained sluggish, with the possibility of renewed tensions in the Middle East posing downside risks to the labor market.
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South Korea will announce a comprehensive plan to create jobs for the youth within the third quarter, it added.
according to Yonhap News
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