Economy
World / Countries / MNCs South Korea's employment reduces 476,000 in April over COVID-19
Just Earth News | @justearthnews | 12 May 2020, 11:01 pm Print
Pixabay
Seoul/Xinhua: South Korea's employment reduced 476,000 in April from a year earlier as companies encouraged employees to go on an unpaid leave or be laid off amid the COVID-19 outbreak, statistical office data showed Wednesday.
The number of those employed totaled 26,562,000 in April, down 476,000 from a year earlier, according to Statistics Korea.
It was the biggest reduction in over 21 years since February 1999.
The hiring rate for those aged 15 or higher was 59.4 per cent in April, down 1.4 percentage points from a year ago.
It was the fastest decline since May 2009.
More Economy
- Automobile giant Tesla likely to remove 10 percent of its workforce
- Crypto market tanks amid Middle East crisis
- Elon Musk's Tesla inks strategic deal with India's Tata Electronics to procure semi-conductor chips
- Apple plans to reduce 614 workers in California
- Tech major Apple to open its new Shanghai store on Thursday
