Last month, the increase in employment insured subscribers was the lowest in 17 years. Due to the new coronavirus infection (Corona 19) pandemic, the decline in employment insurance subscribers in the’face-to-face service’ business, lodging and restaurants, also recorded a record high.
According to the’January Labor Market Trend’ announced by the Ministry of Employment and Labor on the 8th, the number of employment insurance subscribers last month was 1,3835,000, an increase of only 151,000 (1.1%) compared to the same month last year. The monthly increase in employment insurance subscribers is the lowest since February 2004 (138,000).
In particular, the number of employment insurance subscribers in the hospitality and food service business, which is a face-to-face service, plunged 54,000 from the same month last year. This industry’s monthly subscriber decline is the largest ever. The number of subscribers to the business service industry including the travel industry and the arts and sports industry decreased by 20,000 and 9,000, respectively.
On the other hand, subscribers to non-store retail and courier services, including online shopping, which are’non-face-to-face service’, increased by 22,000 and 2,000, respectively. The number of subscribers to the information service industry increased by 5,000 due to the increasing demand for digital contents such as games and movies.
In addition, the number of employment insurance subscribers in the manufacturing industry was 3537,000, down 13,000 (0.4%) from the same month last year. However, the textile manufacturing industry that produces masks and quarantine products increased by 28,000, and continued to increase from last September.
Retail subscribers, including non-store retail and courier services, increased by 23,900 last month due to the strong business conditions. The number of subscribers to the publishing industry continued to increase to 32,600 with the spread of telecommuting.
Last month, the amount paid by the Employment Insurance Fund to support job search for the unemployed was KRW 960.2 billion. There were 212,000 new applicants for job-seeking benefits, the largest ever since 1997 as of January. The total number of recipients is 669,000.
Kim Cheong-hwan reporter [email protected]
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