Seoul - South Korea's job market is showing signs of strain as the number of employees in key industries such as manufacturing and construction has plummeted in recent months. According to data from the National Statistical Office, the number of manufacturing employees in January was the lowest in 12 years, while construction jobs also hit an 8-year low.

The decline in manufacturing jobs is particularly concerning as it is seen as a bellwether for the overall economy. Experts say the slump is a result of the ongoing economic downturn, which has been weighing on businesses and consumers alike. The construction industry has also been hit hard by the economic slowdown, with many projects being put on hold or canceled altogether.

The retail and hospitality sectors have also suffered from the prolonged slump in domestic demand. The number of employees in these sectors has fallen to the lowest level since the COVID-19 pandemic.

Despite the sharp decline in these key industries, overall employment in South Korea increased by 135,000 in January compared to the previous year. This was largely due to an increase in jobs in the public administration and social welfare services sectors.

Experts say that the government's job creation programs, which are heavily focused on the public sector, have helped to prop up the labor market in the face of declining private sector employment. However, they warn that this is not a sustainable solution and that more needs to be done to address the underlying economic problems that are causing job losses in the manufacturing and construction industries.

[ⓒ Global Economic Times. 무단전재-재배포 금지]