Job Market Monitor
South Korea
Minimum Wage in Korea – 20,000 apartment guards face layoffs Unions says
Two major labor advocates estimated Tuesday that about 20,000 security guards at apartment complexes nationwide would face layoffs due to the minimum wage law, which will become fully effective on Jan. 1, 2015. As there are about 180,000 apartment security guards in the country, the estimate would amount to 11 percent to the total. The … Continue reading
South Korea – Unemployment up at 3.5 per cent in August
South Korea’s unemployment rate inched up in August as agriculture and banking sectors continued shedding jobs, government data showed on Friday (Sep 12). The seasonally adjusted jobless rate rose to 3.5 per cent, up from the previous month’s 3.4 per cent, Statistics Korea said. via S Korea unemployment inches up in August – Channel NewsAsia.
General Motors (GM) / To cut jobs in south korea
Automaker General Motors Co. (GM: Quote) plans to cut jobs at its South Korean operations in the first quarter of next year ahead of the withdrawal of its Chevrolet brand in Europe, media reported Tuesday. GM Korea reportedly will implement a voluntary retirement scheme for about 6,000 office workers by the end of March, event … Continue reading
Korea / Unemployment rate falls to 2.9%
South Korea’s unemployment rate fell slightly to 2.9 percent in November, as healthcare and other service industries added more jobs, official data showed Wednesday. The seasonally adjusted jobless rate compared to 3.0 percent posted in October and 3.0 percent in the same period a year earlier, the state-run Statistics Korea said. Unadjusted, the figure stood … Continue reading
Korea / Ageing faster than any other country in the OECD
South Korea is ageing faster than any other country in the OECD. Last year almost 12% of the population were aged 65 or over. By 2030 that proportion will double Continue reading
Korea / Unemployment rate unchanged at 3.2 percent in July – The China Post
South Korea’s jobless rate was unchanged at 3.2 percent in July, Statistics Korea said Wednesday, after new employment openings in education and social services offset losses in the manufacturing sector Continue reading
Korean-Chinese Labourers / Work in poor conditions
Korean-Chinese labourers often take dirty and dangerous jobs shunned by South Koreans and work in poor conditions without proper safety training Continue reading
South Korea – Layoffs across brokerage houses
South Korean brokerage houses are slashing workforces as Europe’s debt crisis and the global economic slowdown bite into their profitability and their trading activities, sources said Monday. The total number of employees at 63 local brokerage firms reached 42,388 at end-March this year, down 0.7 percent from three months earlier, according to the data from … Continue reading
South Korea – One of the world’s fastest-aging workforce
The failure of South Korea, one of the world’s fastest-aging societies, to tackle a shrinking labor pool threatens to undermine growth and lessen the nation’s odds of producing the next Samsung Electronics Co. or Hyundai Motor Co. Only half of women aged 15 years or older were working last year and the participation of females … Continue reading
S. Korea | Unemployment rate (sa) stood at 3.4 percent in April
South Korea’s seasonally adjusted unemployment rate stood at 3.4 percent in April, unchanged from the previous month, official figures showed Wednesday. The economy added 455,000 jobs in April compared with 379,000 a year earlier. via S. Korea jobless rate falls due to service jobs – Channel NewsAsia.
Korea | 70,000 Korean Chinese Face Job Loss
Around 70,000 ethnic Koreans from China working here face the end of their temporary employment visas. Korea opened its doors to ethnic Koreans mostly from China in 2007 to make up for a shortage of workers here in so-called 3D — dirty, dangerous and difficult — jobs. But the four-year, 10-month work visas start to … Continue reading
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