{"id":65372,"date":"2025-08-13T15:25:22","date_gmt":"2025-08-13T15:25:22","guid":{"rendered":"https:\/\/www.newsbeep.com\/au\/65372\/"},"modified":"2025-08-13T15:25:22","modified_gmt":"2025-08-13T15:25:22","slug":"south-korean-unemployment-falls-but-weak-private-hiring-still-a-concern-snaps","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/au\/65372\/","title":{"rendered":"South Korean unemployment falls, but weak private hiring still a concern | snaps"},"content":{"rendered":"<p>South Korea\u2019s unemployment rate edged down to 2.5% in July, compared to 2.6% in June and market expectations. However, underlying indicators were less positive than the headline figure implies. The labour participation rate fell to 64.4%, marking its third consecutive monthly decline. Private sector hiring remained subdued. Manufacturing employment, meanwhile, decreased for the second month in a row. Construction has shed jobs in six of the past seven months in 2025. The sector is expected to be a significant drag on overall growth, with conditions potentially more challenging than we had previously thought.<\/p>\n<p>This would add downside risk to our GDP growth forecast of 1.2% year on year for 2025. In the service sector, wholesale and retail (-23k) and accommodation\/food services (-35k) lost jobs amid weak domestic activity, while health and social work (+51k) and transportation (+43k) saw gains. By category, self-employed jobs increased, while wage\/salary workers declined, suggesting the labour market remains vulnerable. We believe that government measures to boost domestic demand may strengthen the labour market, albeit mostly in low-income\/low-skilled jobs, in the coming months.<\/p>\n","protected":false},"excerpt":{"rendered":"South Korea\u2019s unemployment rate edged down to 2.5% in July, compared to 2.6% in June and market expectations.&hellip;\n","protected":false},"author":2,"featured_media":65373,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[64,63,99,180],"class_list":{"0":"post-65372","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-jobs","8":"tag-au","9":"tag-australia","10":"tag-business","11":"tag-jobs"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/65372","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=65372"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/65372\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/65373"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=65372"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=65372"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=65372"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}