The Korea Herald

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More people forced to change jobs in 2013

By Korea Herald

Published : Nov. 24, 2014 - 21:01

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The number of people who were forced to change jobs after being laid off or for other unwanted reasons jumped in 2013, reflecting tough economic conditions, data showed Monday.

According to the data from Statistics Korea, the Financial Supervisory Service and the Bank of Korea, some 718,000 people had to change jobs last year, up from the previous year’s 619,000.

Of the 2.63 million workers who switched to another workplace in 2013, 27 percent made the change involuntarily, the data indicated.

Analysis of the data showed that such unwanted job change was attributable to tougher business conditions that resulted in more layoffs.

About 384,000 people had to find new jobs after being let go, while another 334,000 people found other work after their temporary employment contract expired.

Lower income earners and older age groups were more affected by layoffs.

The number of layoffs among those belonging to the lowest 20 percent income bracket more than doubled to 65,000 in 2013 from the previous year’s 26,000. (Yonhap)