S.Korean poor households' earnings post double-digit fall in Q2
Source: Xinhua | 2020-08-21
South Korean poor households' earnings posted a double-digit fall in the second quarter owing to an economic fallout from the COVID-19 outbreak, statistical office data showed Thursday.
The monthly earned income among households in the bottom 20-percent income bracket averaged 485,000 won (410 U.S. dollars) in the April-June quarter, down 18.0 percent from a year earlier, according to Statistics Korea.
The monthly average earned income in the top 20-percent income group slipped 4.0 percent in the cited quarter.
The faster earnings fall in the low-income bracket came as most of the poor households were irregular workers or day laborers.
Domestic companies let workers to go on an unpaid leave or be laid off on worry about the COVID-19 pandemic.
The number of jobs retreated 277,000 in July from a year earlier, after slumping 195,000 in March, 476,000 in April, 392,000 in May and 352,000 in June respectively.
In July, the number of irregular workers dropped 395,000 on a yearly basis, with the reading for day laborers sliding 44,000. The number of regular employees increased 346,000 in the month.
The monthly business income among households in the bottom 20-percent income bracket averaged 263,000 won (220 U.S. dollars) in the second quarter, down 15.9 percent from a year earlier.
The monthly average business income for those in the top 20-percent income group shrank 2.4 percent to 1,759,000 won (1,480 U.S. dollars) in the quarter.
Busiunion
Busiunion