SEOUL, The ruling Democratic Party (DP) said Friday that the job market appeared to avoid the worst situation after the government announced better than expected employment data last month.
The number of employed people reached 27.05 million in September, up 45,000 from a year earlier, government data showed. The number of newly added jobs improved last month, after staying below 10,000 per month for the second straight month.
Before the data release, there were concerns that job creation might contract.
“There have been many concerns, but the job market appeared to avoid the worst situation,” Lee Hae-chan, the DP’s chief, told a meeting with senior party members.
“As the economic situation is not good, there should be close communication and consultation between the ruling party and the government to create jobs in a sustainable manner,” he added.
Lee also called for the government’s efforts to stabilize financial markets following the stock market’s dive the previous day.
South Korea’s key stock index plummeted 4.44 percent to an 18-month low on Thursday amid a selling spree across the globe.
Source: Yonhap News Agency