In January 2025, the employment rate for those aged 15 and above reached 61.0% (the highest for January on record), unchanged from the previous year. The employment rate for those aged 15-64 stood at 68.8% (the highest for January on record), an increase of 0.1%p from the previous year. The labor force participation rate was 63.4% (the highest for January on record), rising by 0.1%p from the previous year, while the unemployment rate remained steady at 3.7%, unchanged from the previous year.
* Employment Indicators for January (2024→2025, %): Employment rate 61.0 → 61.0
Labor force participation rate 63.3 → 63.4
Unemployment rate 3.7 → 3.7
By age group, the employment rate picked up for those in their 30s (80.0%, +0.9%p), 40s (78.8%, +0.6%p), and those aged 60 and over (42.3%, +1.0%p). However, the employment rate decreased for the youth (44.8%, -1.5%p) and those in their 50s (76.5%, -0.3%p).
The number of employed persons rose by 135,000 compared to the previous year. By industry, the service industry (+177,000 → +349,000) and the agriculture, forestry and fisheries industry (+25,000 → +7,000) saw increases, while there were declines in the construction (-157,000 → -169,000) and manufacturing (-97,000 → -56,000) sectors. By employment status, the growth in regular workers expanded (+187,000 → +224,000), while temporary workers (-86,000 → +72,000) turned to an increase, and the decreases in daily workers narrowed (-150,000 → -116,000).
* Growth in the number of employed persons (year-on-year, ten thousand): (Q1, 2024) +29.4 (Q2) +14.6 (Q3) +14.6 (Q4) +5.2 (Dec) -5.2 (Jan, 2025) +13.5
In January, the number of employed persons turned to an increase after two months, with the growth in the service sector expanding, driven by direct job creation programs and increased purchases of highly demanded goods before the Lunar New Year holiday (February 2024 → January 2025). However, the employment decline in key sectors such as manufacturing and construction continues, and the difficulties faced by vulnerable groups, including the youth, persist. Meanwhile, the decline in working-age population is expected to start limiting job growth from 2025, and there are significant uncertainties ahead, including risks of economic downturn.
The government plans to accelerate efforts to create jobs in the private sector and ensure employment stability for vulnerable groups in order to build momentum for the recovery of people’s livelihoods. In the first quarter, the construction sector will be strengthened through the quick execution of the budget for Social Overhead Capital (SOC) and public institution investments, while also enhancing tailored employment services for vulnerable groups such as youth and middle-aged workers. For young people, the Youth Employment All-Care Platform will be fully operational starting in March, and a joint public-private job fair will be held to foster and spread a positive atmosphere for the youth employment. In addition, the government will continuously devise and monitor support measures for vulnerable sectors through the Job Creation Task Force and Meeting on Improving People’s Livelihoods.
Please refer to the attached files.
