Story perspectives

South Korea Sees Wage Growth Amid Job Market Challenges

6/28/2025

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Summary

Workers Face Challenges

In April, South Korea's average worker earned 3.97 million won ($2,870), with nominal wages up 2.7%.
Real wages rose 0.6% to 3.41 million won, but hiring slowed, adding 826,000 new jobs, down 61,000 from last year.
The construction sector saw a 15.3% employment drop, continuing a year-long decline.
Manufacturing jobs have decreased for 20 months amid competitive pressures and a negative outlook.
Job seekers face challenges, often submitting many resumes without success.

Summary

Job Gains and Losses

U.S. nonfarm payrolls increased by 139,000 in May, led by Texas with 28,100 new jobs.
Ten states and D.C. experienced a combined loss of 28,400 jobs, with Ohio losing 6,500.
Canada lost 6,200 payroll jobs in April, reflecting ongoing trade war effects.
Canada's unemployment rate hit 7% in May, with 3.1 unemployed individuals per job vacancy.

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Workers Face Challenges

In April, South Korea's average worker earned 3.97 million won ($2,870), with nominal wages up 2.7%.
Real wages rose 0.6% to 3.41 million won, but hiring slowed, adding 826,000 new jobs, down 61,000 from last year.
The construction sector saw a 15.3% employment drop, continuing a year-long decline.
Manufacturing jobs have decreased for 20 months amid competitive pressures and a negative outlook.
Job seekers face challenges, often submitting many resumes without success.

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