Employment insurance subscribers surge in Korea in June on economic recovery

2021.07.12 16:48:33

[Photo by Han Joo-hyung]이미지 확대

[Photo by Han Joo-hyung]

The number of Koreans subscribed to employment insurance surged in June in line with economic recovery and job increases, although monthly state handout for the unemployed passed the 1 trillion won ($872 million) mark for the fifth consecutive month.

According to data from the Ministry of Employment and Labor on Monday, a total 14.33 million Koreans were subscribed to employment insurance last month, up by 462,000 from the same period a year ago.

The figure represents the highest monthly gain since November 2019.

The growth goes against subdued number in the year-ago period amid Covid-19 outbreak and helped by economic recovery on the back of strong exports.

이미지 확대
The number of Koreans subscribed to employment insurance in the manufacturing sector with relatively decent jobs totaled 3.58 million last month, up by 68,000 from a year ago.

State unemployment allowance reached 1.09 trillion won in June, still staying at the 1 trillion won level since February. The allowance is given by the government out of its employment insurance fund to support for job seeking activities of unemployed people.

In June, 91,000 new applications were submitted for the allowance.

By Minu Kim

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