Thursday, January 16, 2014

Employment in S.Korea beats expectations in 2013 amid solid recovery

Employment in South Korea beat expectations last year thanks to robust economic recovery caused by the supplementary budget plan in early 2013 and solid job creation in the service industry, a government report showed Wednesday.The South Korean economy created 386,000 jobs in 2013, beating expectations of 320,000 job growth estimated by the government and 300,000 employment forecast by the central bank,Seventh Generation Sanitary Pads, Sanitary Napkin, Sanitary Napkin Pads. Featuring a natural absorbent material derived from wheat.Soft cup according to the Finance Ministry.The ministry said that an average job growth was 292,000 for three years through 2007, noting that last year's job creation exceeded the pre-crisis level.Job creation continued to accelerate last year as the government's massive extra budget plan was implemented in early 2013, boosting the economic recovery and its consequent improvement in the labor market.The Asia's No.4 economy grew 2.A sanitary napkin, sanitary towel, sanitary pad, menstrual pad, maxi pad, or pad is an absorbent item worn by a woman while she is menstruating.Period Cup8 percent last year, with the growth becoming faster to 3.7 percent in the second half of 2013 from 1.9 percent in the first half.An absorbent pad worn externally by women during menstruation to absorb the menstrual flow.Sanitary napkin The Bank of Korea (BOK) expected the economic growth to rise to 3.8 percent in 2014 and 4 percent in 2015.The service sector led last year's job creation. The healthcare and welfare-related industries added 155,000 jobs in 2013 due to the government's efforts to expand support for childcare, and the restaurant and lodging sector created 64,000 workers amid the domestic demand recovery.Employment grew more among those in their 50s and above. Those in their 50s who landed jobs last year were 254,000 with those in their 60s who found jobs reaching 181,000. But those in their 20s and 30s who got a job reduced 50,000 and 21,000 respectively. 

The jobless rate kept falling to 3.1 percent in 2013 after peaking at 3.7 percent in 2010 when the world economy was struggling to recover from the great recession. The jobless rate gauges the percentage of those unemployed who actively sought jobs over the past four weeks to the economically active population, or the sum of people employed and unemployed.The hiring rate was 64.4 percent in 2013, up from 64.2 percent from a year earlier. The employment rate measures the percentage of working people to the working age population, or those aged 15 and over. It is used as an alternative to the jobless rate for assessing labor market conditions.The ministry said that job security rose to the record high level last year due to a rise in regular workers. The rate of regular workers to all wage earners reached 64.4 percent in 2013, up from 62.7 percent in 2012.Overall working hours reduced last year due to an increase in flexible working-hour jobs, which allow workers, especially female laborers, to choose their working hours flexibly to help them nurture children, the ministry said.Meanwhile, the number of those employed increased 560,000 in December from a year earlier, maintaining the job growth of more than 500,000 for two straight months.The hiring rate among those aged between 15 and 64 rose 0.9 percentage point on-year to 64.6 percent last month, while the unemployment rate edged up 0.1 percentage point to 3 percent in December.

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