Last year's fourth quarter saw the smallest increase in wage jobs on record. This is due to over 100,000 jobs evaporating in the construction industry over the past year. The number of jobs for those under 20 and in their 40s decreased in the fourth quarter, following a decline in the third quarter.

According to the 'Trends in wage worker jobs in the fourth quarter of last year' released by Statistics Korea on the 21st, the total number of wage worker jobs in the fourth quarter of last year (as of November) increased by only 153,000 compared to a year ago. This is the lowest since the statistics were compiled in 2018.

A job is an employment position occupied by a worker, which is a different concept from an employed person. For example, if one person works at a company during the week and as an academy instructor on weekends, they would count as one employed person, but there would be two jobs recorded.

The increase in wage worker jobs decreased throughout the year, with 314,000 jobs in the first quarter, 254,000 in the second quarter, 246,000 in the third quarter, and 153,000 in the fourth quarter.

By major industry classification, 109,000 jobs were lost in the construction industry, and 9,000 jobs disappeared in real estate. Conversely, jobs increased in health and social welfare (140,000), associations, repairs, and personal services (29,000), and business and rentals (26,000). The manufacturing sector, which has the largest share of jobs among all industries, saw an increase of 9,000 jobs.

By age group, there was a significant decrease in jobs for those under 20 (-148,000) and in their 40s (-84,000). This marks the largest decline recorded since statistics were first compiled, following a decrease in the previous quarter. A Statistics Korea official noted, 'The reduction in jobs for those under 20 is also a phenomenon linked to the population decrease resulting from demographic changes.'

The age group that saw the most significant increase in jobs was those aged 60 and above (248,000). Jobs also increased for those in their 50s (70,000) and 30s (67,000).

In the fourth quarter of last year, the number of continuing jobs occupied by workers was 15,096,000, accounting for 72.2% of the total. Replaced jobs due to retirement and job changes amounted to 3,362,000 (16.1%), while new jobs created by corporations or business expansions totaled 2,444,000 (11.7%). Jobs lost due to the disappearance of corporations or business downsizing numbered 2,292,000.