Number of discouraged workers in S.Korea hits new high #Number #discouraged

Seoul, Jan 24 : The number of discouraged workers in South Korea touched a fresh all-time high in 2021 due to a weak job market amid the prolonged Covid-19 pandemic, government data showed on Monday.

Asias fourth-largest economy had 628,000 discouraged workers, the largest tally since related data tracking began in 2014, according to data from Statistics Korea.

Discouraged workers refer to those who are currently unemployed and have not sought to find jobs in the last four weeks due to no suitable job options or other reasons, though they are eligible for employment and are willing to work, with the experience of having looked for jobs in the past year, reports Yonhap news Agency.The increase in the number of discouraged workers is widely seen as resulting from the flaccid labour market because of the fallout from the unabated health crisis.The data also showed the number of unemployed South Koreans who sought to find jobs for six months or longer standing at 128,000 last year, up 8.1 per cent from 2020 and switching to an upturn in three years.Long-term unemployed Koreans in their 20s and 30s numbered 65,000, accounting for slightly more than half the total.The hike in the number of discouraged workers and long-term unemployed people came despite South Koreas headline jobless rate fell to 3.7 per cent in 2021 from 4 per cent a year earlier, with the number of unemploted people falling by 71,000 to 1.04 million.ksk/ #Number #discouraged #SKorea #hits #Jan #Seoul #Covid-19.