Korea’s Employment Landscape in the First Half of 2023: Urban and Rural Insights

The recently released “2023년 상반기 지역별고용조사 시군구 주요고용지표” report provides a comprehensive view of Korea’s employment landscape, with a focus on urban and rural dynamics.

Employment and Employment Rate Highlights:

  1. Urban Resilience: In the 9 major metropolitan areas, employment grew by 240,000 to reach 13.85 million, leading to a 0.8 percentage point increase in the employment rate at 61.9%.
  2. Rural Growth: The 9 major rural regions saw an increase of 11,100 employed individuals, totaling 2.105 million, resulting in a 0.3 percentage point rise in the employment rate to 68.7%.
  3. Urban Expansion: Within the 7 special metropolitan cities, 207,000 more individuals were employed, reaching 11.432 million, accompanied by a 1.0 percentage point increase in the employment rate, now at 58.3%.

Unemployment and Unemployment Rate Insights:

  1. Urban Decline: Urban regions witnessed a decrease of 6,000 unemployed individuals, totaling 385,000, leading to a 0.1 percentage point reduction in the unemployment rate at 2.7%.
  2. Rural Stability: In the 9 rural regions, the unemployment rate remained steady at 1.2%, with 27,000 individuals unemployed.
  3. Urban Challenges: Special metropolitan cities experienced a slight uptick in unemployment, with 3,000 more individuals unemployed, resulting in an unchanged unemployment rate of 3.6%.

Work Location Patterns:

  1. Urban Work Distribution: Urban areas showed a trend of individuals commuting from different locations, with 13.169 million employed based on workplace, differing by 682,000 from resident-based employment.
  2. Rural Preference: Rural regions exhibited a preference for working within residential areas, as 2.397 million individuals were employed based on workplace, differing by 292,000 from resident-based employment.
  3. Urban-Rural Balance: Special metropolitan cities mirrored this trend, with 11.843 million employed based on workplace, differing by 411,000 from resident-based employment.

The “2023년 상반기 지역별고용조사 시군구 주요고용지표” report, led by 담당자전민엽, offers valuable insights into Korea’s employment landscape, highlighting the interplay between urban and rural employment trends.