Korea's 50:60 Age Group Employment Soars in Korean Job Market

South Korea's jobless rate was 3.7 percent in July. This is up slightly from 3.6 percent in June and 3.5 percent in May,

According to the South Korean National Statistical Office's July Employment Trends, the number of employed in July totaled 23.2 million. This is 690,000 jobs over December 2004 .

One interesting dimension of the Korean job market appears to be generational.

For example, the 60s age group took up 50.4 percent, or 348,000 of the new job total. The 50s group took up 242,000, or 35.1 percent. That means of the total of new job vacancies, 85.5 percent, or 590,000, were filled by those aged 50 and above.

Reflecting Korea's rapidly growing aging population, the government report highlighted that the number of working people in their 30s dropped by 31,000.

The 40s age group totaled 77,000, or 11.2 percent.

An NSO official said the declining employment figure for those in their 30s could be explained by many of them seeking extra training or furthering their studies to secure better quality jobs.