SEOUL, Nov. 13 (Xinhua) -- South Korea's year-on-year employment growth stayed above 300,000 for three straight months to October, with the hiring rate hitting the highest October figure in 23 years, statistical office data showed Wednesday.
The number of those employed totaled 27,509,000 in October, up 419,000 from a year earlier, according to Statistics Korea. The on-year increase was 452,000 in August and 348,000 in September respectively.
The hiring growth came as the government unveiled a series of projects to create jobs especially among the older generation.
The country is one of the fastest aging societies in the world, driving the government to provide part-time jobs for the elderly who did not fully prepare for their after-retirement life.
Employment among those aged 60 or higher expanded 417,000, with those in their 50s and 20s increasing 108,000 and 87,000 respectively.
Jobs in their 30s and 40s declined 50,000 and 146,000 each last month, but the reduction was mainly attributed to the falling number of populations in those ages.
The number of regular workers advanced 575,000 in the month, while those for irregular workers and daily workers shrank 21,000 and 81,000 each.
Employment in the health and social welfare, the eatery and lodging, and the arts, sports and leisure sectors gained ground, but jobs among manufacturers declined 81,000 in the month amid the lingering external uncertainties.
Export, which accounts for about half of the export-driven economy, kept skidding for 11 straight months through October amid the global economic slowdown and the global chip industry's downturn.
The job loss in the manufacturing industry continued for the 19th consecutive month to October.
Employment in the wholesale and retail, and the finance and insurance sectors reduced 67,000 and 54,000 each in the month.
The government submitted a record yearly budget for next year to the parliament to bolster the lackluster economy and help create jobs.
The employment rate for those aged 15 or higher gained 0.5 percentage points from a year earlier to 61.7 percent in October, marking the highest October reading in 23 years since 1996. The rate among those aged 15-29 added 1.4 percentage points to 44.3 percent.
The OECD-method hiring rate among those aged 15-64 rose 0.5 percentage points to 67.3 percent last month, the highest since relevant data began to be compiled in 1989.
The employment rate gauges the percentage of working people to the working-age population, or those aged 15 or above. Amid the aging population, it is used as an alternative to show the labor market conditions more precisely.
The number of those unemployed was 864,000 in October, down 108,000 from a year earlier. Jobless rate retreated 0.5 percentage points to 3.0 percent in the month, logging the lowest October reading in six years since 2013.
The unemployment rate for the younger generation aged between 15 and 29 slipped 1.2 percentage points to 7.2 percent in the month, logging the lowest October figure in seven years.
The so-called expanded jobless rate, which reflects labor market conditions more accurately, slumped 0.5 percentage points over the year to 10.6 percent in October.
The official unemployment rate refers to those who are immediately available for work but fail to get a job for the past four weeks despite efforts to actively seek a job.
The expanded jobless rate adds those who are discouraged from searching a job, those who work part-time against their will to work full-time and those who prepare to get a job after college graduation, to the official jobless rate.
The number of economically inactive population grew 28,000 from a year earlier to 16,228,000 last month.
The so-called "take-a-rest" group, which replied that they took a rest during a job survey period, jumped 324,000 in the month. It is an important figure as the group can include those who are unemployed and too discouraged to search for work for an extended period of time.
Discouraged workers, who gave up efforts to seek a job because of the worsened labor market conditions, declined 22,000 over the year to 504,000 in October.
