Data showed that the average monthly income of South Korean workers increased by 4.1% in 2019 year-on-year due to a rise in minimum wage.
Data from Statistics Korea showed that household incomes from salaries and business operations declined for three consecutive quarters in Q4 2020.
Statistics Korea said the number of temporary and daily jobs for those in their 20s declined 18% in January due to the pandemic.
Smaller businesses saw a steep drop in employment numbers while that of larger conglomerates rose last year.
Service industries that require face-to-face interactions are expected to have a slower recovery as compared to other sectors.
There were 27,423 private sectors workers who requested paternity leave last year, more than double that of 2017’s total of 12,042.
The supplementary budget is reported to be in the scale of 20 trillion won (US$17.9 billion) to 30 trillion won (US$26.8 billion).
The Korea Employment Information Service (Keis) said South Korea’s income gap increased by 4% year-on-year in 2020 due to the fallout from COVID-19.
Among new recruits last December, some 407,000 people had experience working at a second job, data shows.
An OECD report has calculated that by 2050, Japan’s working-age population would have declined to 61.8%.
The finance ministry plans to hand out 4.1 trillion won (US$3.7 billion) in emergency cash to people affected by the third wave of the coronavirus.
The Ministry of SMEs and Startups said the budget to support startups has been raised to 1.5 trillion won (US$1.4 billion) this year.
The government also plans to support smaller businesses, offer tax incentives to increase hiring, and support sectors that were severely retrenched.
The Ministry of Science and ICT will invest US$5.3 billion on science and information and communication technology (ICT) research in 2021.
Some 5.6 trillion won will be used for cash handouts to small businesses, temporary workers or freelancers, and taxi drivers.
The employment rate of university graduates of the class of 2019 fell, while the employment gap between men and women widened.
As the pandemic worsens an already tightening labour market, an increasing number of South Koreans have abandoned the search for jobs.
To make ends meet, more jobless middle-aged people have turned entrepreneurial and started their own small businesses.
One of the main aims of South Korea’s 2021 economic policy plan is to prop up the sluggish labour market.
Younger jobseekers are finding it harder to find openings with the government’s job creation programme.
Financial pressures are forcing Koreans to take on a second job, but even such plans are being thwarted by the pandemic.
Home care workers and after-school tutors will receive a payout, which will be drawn from a dedicated donations fund.
Amendments to various employment acts were made after the country’s delivery workers died due to overwork.
Women formed only 20.9% of managers in 2,486 organisations in the country, according to the Ministry of Employment and Labour.
Non-regular jobs include temporary jobs, contract jobs, and other roles with low job security.
The Ministry of Labor and Employment will implement the 52-hour cap on the working week for SMEs as scheduled.
University grads working in big firms take home an average of US$29,744 annually.
Sales exports totalled US$16.4 billion in the month, registering a 6% year-on-year rise, as South Korea continues to be a leader in the ICT sector.
The number of unemployed people reached 1.03 million for the month as the South Korean economy continues to be impacted by the pandemic.
The percentage of workers “temporarily laid off” by small and medium sized companies rose sharply from 28.0% in August to 50.1% in September.