Decreased functions of the manufacturing sector in South Korea to the lowest level in 12 years
On February 16 / WAM / data showed today, Sunday, that the number of jobs in the South Korean manufacturing sector decreased in January to the lowest level in 12 years, amid weak economic growth.
The number of workers in the manufacturing sector until the end of last January reached 4 million and 390 thousand people, a decrease of 56 thousand from the previous year, according to the data collected by the Korean Statistics Authority.
This number is the lowest of its kind since January 2013 when he recorded 4 million and 320 thousand.
The number of jobs in the manufacturing sector showed a continuous decrease on an annual basis since July 2024.
The dark situation comes with a slowdown in the local economy due to the slowdown in export growth and poor domestic demand amid a tougher global competition and the increasing uncertainty caused by policy changes under the Donald Trump administration and the imposition of President Yun Siuk -ol the martial law last December.
Meanwhile, employment in the construction sector decreased by 169,000 jobs in January compared to the previous year, which represents the largest decrease on an annual basis since the agency began collecting relevant data in 2013, and it recorded a decrease for the ninth month in a row.
Despite the decline in jobs in the manufacturing and construction sectors, the total number of jobs in the country increased by 135 thousand jobs in January, led by employment in the field of public health and social welfare.
An official at the Ministry of Finance said that the difficulties in the labor market are continuing, especially among young people, construction workers, temporary workers and small business owners; The economy faces increasing downward pressure due to the uncertainty at home and abroad.
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