Last month, the number of employed people in Daejeon turned to increase for the first time in two months… Highest employment rate this year

Daejeon employment trend in August. Photo = Provided by Chungcheong Provincial Statistical Office

Compared to last year, the rate of change in the number of employed people in Daejeon turned to increase for the first time in two months. The employment rate is at an all-time high this year.

According to the employment trends of the Chungcheong region in August published by the Chungcheong Regional Statistical Office on the 18th, the number of employed people in Daejeon was 801,000, an increase of 0.1 percentage point from the same month the previous year. This is the first time in two months that the decline has turned into an increase.

Previously, Daejeon was the only city in the Chungcheong region to see a decrease in the number of employed people. In June, the number of employed people in Daejeon decreased by -1.6% compared to the same month of the previous year and -0.1% in July. On the other hand, in the Chungcheong region, Sejong, Chungnam, and North Chungcheong regions have been increasing for 12 consecutive months.

The employment rate in Daejeon last month was 62.2%, the highest this year. The employment rate in Daejeon was 60.5% in January, 61% in February, 60.9% in March, 61.1% in April, 61.6% in May, 61.1% in June, 61.6% in July, 62.2% in August.

As the number of employed people increased, the unemployment rate in Daejeon was 1.8%, down 0.1 percentage point from a year ago. The number of unemployed was 15,000, a decrease of 4.6%.

The Office for National Statistics analyzed that the service industry led the increase in the number of employed people, while the construction industry declined due to the heavy rains.

Looking at the number of employed people in Daejeon by industry, the number of businesses, individuals, and public service sectors was 405,000, up 3.1% from the same month last year. The electricity, transport, telecommunications and finance industries rose 2.2 per cent to 88,000, and the wholesale/retail, accommodation and food industries rose 1.7 per cent to 157,000, respectively. The construction industry fell 0.6% to 67,000.

The number of non-wage workers was 155,000, down 4.8% from the same month a year earlier. Among unpaid workers, the number of unpaid family workers was 18,000, a decrease of 10.5% from the same month the previous year, and the number of self-employed decreased by 4% to 137,000.

Meanwhile, nationwide, the number of employed people last month was 208.41 million, an increase of 807,000 from the same month the previous year. This is the biggest increase in 22 years since 848,000 in August 2000.

Experts predict that it is uncertain whether this increase will continue in the future due to the base effect and interest rate increases.

Chief Vice Minister of Strategy and Finance Bang Ki-seon said, “The economic uncertainty is growing, such as worsening external conditions and a contraction in consumption due to high inflation and rising interest rates.”

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