South Korea Adds 183,000 Jobs in June as Jobless Rate Hits 2.6%

South Korea’s labour market expanded for a sixth straight month in June, with the number of people in work rising by 183,000 from a year earlier to 29.09 million, according to data released by Statistics Korea on Wednesday. The seasonally adjusted unemployment rate edged down to 2.6%, slightly below the 2.7% consensus forecast, while the headline jobless rate slipped 0.1 percentage point to 2.8%. The employment rate for those aged 15–64 climbed 0.4 point to 70.3%. Hiring was driven largely by older workers, with employment among people aged 60 and above increasing by 348,000. Jobs in public health and social welfare added 216,000 positions and science and technology services gained 102,000. By contrast, the economy continued to shed positions in key goods-producing industries. Manufacturing employment contracted by 83,000, extending its decline to 12 months, and construction fell by 97,000 for a 14-month losing streak. Agriculture lost 141,000 jobs amid extreme weather. Youth employment remains a weak spot: the employment rate for 15–29-year-olds dropped for a 14th month to 45.6%. Economists are watching whether fiscal stimulus and trade conditions can revive hiring in export-oriented sectors during the second half of the year.