Number of jobs increases by 810,000 in 2022, hitting 22-year high

SEOUL -- The number of jobs increased by 810,000 to 28.08 million last year from a year before, boosted by stable economic growth and a return to normal life from the COVID-19 pandemic, according to Statistics Korea.
 
The increase was the largest since 2000 when the number climbed by 882,000. The previous record was set in 1987 when the figure rose by 849,000.
 
Gong Mi-suk, director in charge of social data at the statistical office, said that the boom in the job market was attributed to brisk daily life following eased COVID-19 restrictions and solid export growth. She, however, pointed out that the job growth trend slowed in the latter half of last year amid aggravating economic conditions at home and abroad.
 
The number of jobs fell by 218,000 in 2020 in the aftermath of the outbreak of the coronavirus. Then, the number rebounded by 369,000 in 2021.
 
By industrial sector, healthcare and social welfare saw jobs rise by 180,000 in 2022, followed by manufacturing (135,000), dining and lodging (84,000), information and telecommunication (80,000), public administration (71,000), and transportation (69,000).
 
However, the retail and wholesale sector recorded a loss of 41,000 jobs due to a boom in e-commerce in the wake of the pandemic. The financial and insurance industry also lost 26,000 jobs, driven by people’s growing preference for online banking services.
 
Statistics Korea said the number of the jobless decreased by 205,000 to 833,000 in 2022 from the previous year. The unemployment rate dropped by 0.8 percentage points to 2.9 percent.