BUSINESS

[Monitor] Single-person households’ income drop

By Korea Herald
  • Published : Sept 13, 2017 - 16:17
  • Updated : Sept 13, 2017 - 16:17

South Korea’s single-person households saw an income drop for a third consecutive quarter in the second quarter this year, data by Statistics Korea showed Wednesday.

The decline was attributed to a decrease in temporary jobs, many of which are taken by the elderly and young people. Elderly retired persons tend to make up a large portion of single-person households, according to the Statistics Korea official.

The average monthly income in the second quarter decreased by 2 percent to 1,642,540 won ($1,460) on-year.