South Korea Adds 310,000 Jobs In 2017

South Korean companies added 310,000 jobs in 2017 from a year earlier, government data said Monday, amid concerted efforts to hire more workers

SEJONG, (APP - UrduPoint / Pakistan Point News - 17th Dec, 2018 ) :South Korean companies added 310,000 jobs in 2017 from a year earlier, government data said Monday, amid concerted efforts to hire more workers.

The job gains remained unchanged from 2016 when South Korean firms also added a total of 310,000 jobs from the previous year, according to the data compiled by Statistics Korea.

By sector, construction, and health and social welfare services added 100,000 jobs in 2017 from a year earlier, respectively.

In contrast, manufacturing shed 70,000 jobs in 2017 in a sign of trouble facing the manufacturing sector, a key backbone of Asia's fourth-largest economy.

The data showed companies with payrolls that stand between 50 and 300 saw the strongest gains with 180,000 jobs. It showed that 170,000 jobs were added to companies with more than 300 employees.

Meanwhile, companies with one to four employees shed 350,000 positions in 2017, underscoring difficulties among small businesses in a country where family-controlled conglomerates have dominated the economy for decades.