Business and services again lead Korean jobs growth
29 May 2013
South Korea’s ‘business, personal, public and other services’ industry again took the position of fastest-growing sector in terms of workforce for Q1 2013, finds the Korea Labor Institute’s May ‘Trends in the Labor Market’ report.
Wed, 29 May 2013South Korea’s ‘business, personal, public and other services’ industry again took the position of fastest-growing sector in terms of workforce for Q1 2013, finds the Korea Labor Institute’s May ‘Trends in the Labor Market’ report.
Services employment rose 3.1% in the first three months of the year, and it accounts for over a third of the country’s 24m workers. It has also the top grower in Q2 and Q3 2012.
In Q4 2012, manufacturing was the fastest-growing sector, at 3.5% - but has since slowed to 3.0%.
Historical strong rise in jobs in the ‘electricity, transportation, telecommunications, and finance’ – the strongest of any sector in Q4 2011 and Q1 2012, have now turned to a small decline.
Construction declined in both Q4 2012 and Q1 2013, while the labour market as a whole grew by 1.1% in the first quarter of this year.
Services employment rose 3.1% in the first three months of the year, and it accounts for over a third of the country’s 24m workers. It has also the top grower in Q2 and Q3 2012.
In Q4 2012, manufacturing was the fastest-growing sector, at 3.5% - but has since slowed to 3.0%.
Historical strong rise in jobs in the ‘electricity, transportation, telecommunications, and finance’ – the strongest of any sector in Q4 2011 and Q1 2012, have now turned to a small decline.
Construction declined in both Q4 2012 and Q1 2013, while the labour market as a whole grew by 1.1% in the first quarter of this year.
- Click for more on recruitment in Korea from last April's Global Spotlight.
