Labor and business income’continuous’ decline in the third quarter… First time ever

◀ Anchor ▶

As Corona 19 continues, business income earned from working and doing business has declined for the first time since statistics were written for three consecutive quarters.

The difficulty of self-employed people due to distance is clearly revealed.

Income polarization was also found to be worse than the previous year.

This is reporter Minchan Kim.

◀ Report ▶

According to the household trend survey for the fourth quarter of last year released by the National Statistical Office, the average monthly business income per household was 994,000 won.

It was down 5.1% compared to the same period last year.

It is a third consecutive quarter of decline, the largest decline since the 2003 statistics were written.

The decrease in sales of self-employed businesses is reflected as it is due to strengthening social distancing.

Earned income also decreased by 0.5%, reaching 3.41,000 won.

It is the first three consecutive quarters of decline.

In particular, the earned income of households in the first quintile, which is the bottom 20% of their income, has decreased by more than 13%.

The polarization of income has also worsened from the previous year.

Disposable income of the top 20% in the last quarter was 4.72 times that of the bottom 20%.

However, it was found that total income increased in all quintiles.

The National Statistical Office analyzed that the previous income increased due to the second disaster support fund, and the Chuseok effect was also reflected.

Consumption expenditure has decreased by more than 10%, mainly in education, food and lodging.

This is Min-Chan Kim of MBC News.

MBC News awaits your report 24 hours a day.

▷ Phone 02-784-4000

▷ Email [email protected]

▷ KakaoTalk @mbc report

.Source