Continued Economic Chill in Manufacturing and Construction... 0.39 Jobs Per Job Seeker

[Financial News] The number of jobs per job seeker and the increase in regular employment insurance subscribers both recorded the lowest levels in history. The job vacancy ratio (number of jobs per job seeker) in June was 0.39, the lowest in 26 years, and the increase in regular employment insurance subscribers recorded the lowest figure for June since the statistics began in 1997. In terms of the number of subscribers, last month (180,000 people) was the lowest since June 2003 (133,000 people).
On the 14th, according to the "June 2025 Labor Market Trends Based on Employment Administration Statistics" released by the Ministry of Employment and Labor, the number of regular employment insurance subscribers in June was 15.59 million, an increase of 180,000 (1.2%) compared to the same month last year. This is the lowest increase for June since the statistics began in 1997.
By industry, the service industry (201,000 people) increased, but the manufacturing industry (-1,000 people) and the construction industry (-19,000 people) decreased. In manufacturing, automobiles, other transportation equipment, food, and pharmaceuticals increased, but textiles, metal processing, machinery equipment, rubber and plastics, and electrical equipment decreased.
The service industry increased mainly in health and welfare, business services, professional science, accommodation and food, and transportation and storage, but wholesale and retail, and information and communication continued to decrease.
The construction industry decreased for 23 consecutive months, mainly in general construction, but the rate of decrease showed a slowing trend.
By age, the 30s (72,000 people), 50s (49,000 people), and over 60s (186,000 people) increased, while those under 29 (-93,000 people) and in their 40s (-34,000 people) decreased.
Those under 29 were affected by population decline, decreasing in information and communication (-21,000 people), manufacturing (-18,000 people), wholesale and retail (-17,000 people), and professional scientific technology (-8,000 people), while those in their 40s were affected by population decline, decreasing in construction (-15,000 people), wholesale and retail (-10,000 people), and manufacturing (-8,000 people).
The job vacancy ratio, which is the number of jobs per job seeker, was 0.39, lower than the same month last year (0.49). This was the lowest level since May 1999, when it was 0.25.
Last month, the amount of unemployment benefits paid was 1.0516 trillion won, an increase of 10.9% compared to the same month last year. The number of unemployment benefit recipients last month was 654,000, an increase of 5.0% compared to the same month last year, and the number of new unemployment benefit applicants was 86,000, an increase of 2,000 compared to last year.
Cheon Gyeong-gi, head of the Future Employment Analysis Division, explained, "Due to uncertain domestic and international situations, the employment situation in the manufacturing sector seems to be difficult, and there are many uncertain parts such as tariff policies, so recruitment seems to be shrinking."
Regarding future prospects, he said, "Looking at private recruitment sites, it seems that recruitment has been slightly recovering since the second to third week of June, and it seems that it is gradually improving, focusing on private recruitment," and "From July onwards, it is expected to improve gradually."

leeyb@fnnews.com Lee Yu-beom Reporter