MOEL News

Labor Market Trend as of April 2022, indicated by Labor Statistics

Date :
Mon May 09, 2022
View :
381

As of the end of April 2022, 14,753,000 have subscribed to employment insurance, up 556,000(+3.9%) year-
on-year in South Korea.

The number of employment insurance subscribers has increased by more than 500,000 for the fourth
consecutive months, driven by the recovery of the manufacturing sector, non-contact services/digital
transformation, and increasing face-to-face services.
? The total number of subscribers(thousand): ('21.Dec)432→ ('22.Jan)548→ ('22.Feb)565→('22.Mar)557→
('22.Apr)556

The number of those insured has seen growth in all sectors(in manufacturing, and in all service industries),
and all age groups(under 60 + 319,000, over 60 + 238,000).

This is the result of the country’s continuing efforts to strengthen the employment safety net, such as
expanding non-contact and digital jobs, government job projects, the Duru-Nuri Programme(social
insurance subsidy program for low-wage workers), employment maintenance subsidies, and employment
incentives.

In terms of manufacturing, while the number of subscribers in other transportation equipment
manufacturing(shipbuilding) increased for the first time in 23 months, the number of subscribers in the rest
of the sector has continued to grow since January 2021, mainly in the areas of electronic communication,
food and metal processing.
? The number of subscribers in manufacturing(thousand): ('21.Dec)87→ ('22.Jan)88→(Feb)82→(Mar)81→
(Apr)84

Regarding the service industry, the number of subscribers has also seen growth in all areas thanks to the
increasing demand for care-giving, social welfare, and increasing non-contact services driven by the eased
social distancing guidelines.
? The number of subscribers in the service industry(thousand): ('21.Dec)313→ ('22.Jan)426→ (Feb)449→
(Mar)441→ (Apr)439

However, the number of subscribers in land transportation(taxi), aviation, department stores and the travel
industry, which provide face-to-face services, continue to decline.

The number of subscribers increased in all age groups, despite the decrease in the population aged 40 and
under. The upward trend of subscribers for each age group differs in each industry.

- (29 and under) Publication, video and telecommunication(+21,000), and accommodation and dining
(+18,000)

- (30s) Publication, video and telecommunication(+15,000), and professional science and technology(+8,000)

- (40s) Manufacturing(+20,000), and education services(+11,000)

- (50s) Health and welfare(+30,000), and manufacturing(+29,000)

- (60 or older) Health and welfare(+68,000), and manufacturing(+39,000)

 
Applicants for unemployment benefits(93,000) declined by 10.1%(-10,000) compared to the same month
last year, mainly on the back of construction (-4,000), business services(-2,000), and manufacturing(-2,000),
thanks to the recovery of the labor market and its effect.

? Number of applicants(thousand): ('21.12)102→ ('22.1)187→('22.2)94→('22.3)133→('22.4)93

The number of unemployment benefit recipients(652,000) decreased by 11.7% (-87,000) and the total
amount decreased by KRW 185.7 billion(-16.0%) to KRW 972.2 billion.

The amount of one-time benefits is about KRW 1.38 million won, down 1.6% from the same month last
year

 
For press inquiry, please contact spokesperson for the foreign media Park, Jihye(parkjihye66@korea.kr /
044-202-7763)