The administration diagnosed early growth due to high exports in March, and the National Assembly predicted a strong won in continuing high unemployment.
The Ministry of Trade, Industry and Energy continued to maintain a surplus for 11 consecutive months with exports of $53.8 billion, an increase of 16.6% compared to the previous year, and imports of $49.95 billion, an increase of 18.8% and trade balance of $4.17 billion in March last month. did.
The National Assembly Budget Office said on the 1st that the number of employed people will decrease by 218,000 from the previous year due to the corona recession last year, and that this year, the number of employed will only increase by 83,000 from the previous year. The report reported that the won-dollar exchange rate declined to an annual average of 1130 won, lower than the previous year (1180 won), due to the recovery of the global and domestic economy and the expansion of the supply of dollar in the foreign exchange market.
The National Assembly report said, “If international interest rates such as the US interest rate rise, it can act as a factor of rising domestic interest rates through portfolio asset adjustment by domestic and foreign investors, which could be a downside factor for economic growth.” As the improvement was slow, it will only increase by 2.3% compared to the previous year.”
A report from the National Assembly said that the number of employed in the manufacturing and construction industries will increase due to improved exports and alleviating sluggish construction crops, but the recovery of the number of employed in the service industry will be modest due to the limited improvement of the face-to-face service industry in the aftermath of the prolonged COVID-19 outbreak.
The Ministry of Trade, Industry and Energy announced the amount of exports in March up to the day before the 1st, breaking away from the two years in a row from 2019 before the coronavirus, and "successfully rebounded in the second half of last year and is continuing the upward momentum this year." "The global economy is recovering. The effect of the improvement of the trade environment and the economy was in earnest, and the rise in international oil prices was also favorable,” he linked with the V-shaped rebound.
On the 31st of last month, the National Statistical Office announced that “February Industrial Activities” showed that all industrial production increased 2.1% from the previous month, but retail sales (consumption index) decreased 0.8%, the largest decrease in seven months.
In particular, the economy in February was a very booming trend in the consumer polar system due to the easing of quarantine, with an increase in semiconductors (7.2%) chemical products (7.9%) service industries (1.1%) accommodation and restaurants (20.4%) transportation and warehouses (4.9%).
At the time, the National Statistical Office announced a full recovery, saying, "The largest increase since June (3.9%), and the production of the mining industry increased 4.3% from the previous month due to the increase in semiconductor and chemical products, etc."
The Bank of Korea announced on the 31st of last month that it had net bought 11543 million dollars in the foreign exchange market as the rate of won appreciation accelerated in the fourth quarter of last year.
The won/dollar exchange rate for the fourth quarter of last year was 1,169.5 won on September 29 and 1,086.3 won on December 30, showing a strong won.
Nihon Keizai, who reported on the ``March National Enterprise Short-Term Economic Observation Survey'' released on the 1st of the Bank of Japan, saw a large corporation (manufacturing) industry judgment index (DI) increased by 15 points from December last year, and the automobile sector DI Rose 23 points, and 13 out of 16 major industries improved DI due to recovery in electric machinery, steel, and non-ferrous metals. The improvement of the export environment was a positive factor in the perception of the economy of large manufacturing companies," he said, as the cause of the'weak yen'.
The result of the diagnosis of the Bank of Japan is that the DI (Industrial Condition Index) of all large non-manufacturing companies, including services such as lodging and food, rose 4 points from three months ago in this survey, but was negative (-1), and accommodation and food in the metropolitan area in January. Service sector DI fell 15 points to -81, and personal services such as leisure facilities fell 8 points to -51. The gap has also widened in the economic experience.”
The announcement on the 1st of the Bank of Japan is the result of a survey of 9,500 companies across Japan from February 25 to the day before (March 31).
In Korea, high unemployment among young people (age 15-29) decreased by 142,000 from the same month of the previous year in February, and the employment rate fell by 0.9%. Both the unemployment and unemployment rates rose in all age groups. Thousands increased and the unemployment rate rose 1.1%.
The number of unemployed persons in February of the National Statistical Office was 1353,000, an increase of 201,000 (17.4%) from the same month of the previous year. In particular, the unemployed people in their 30s, the main production generation, surged 15.6% from the same month of the previous year.
In February, the number of employed by industry was a slight increase in public administration (3.7%) and health and welfare (4%) with government financial support to the manufacturing industry (2.7%) construction industry (1.4%), art sports service (-10.3%), lodging and food (-10.2%). ) The real estate industry (-8.5%) wholesale and retail (-5.4%) education services (-4.5%) and association personal services (-6.8%) continued to fall sharply.
In Japan, the rate of complete unemployment in February was 2.9%, the same as the previous month, and the number of completely unemployed was 2,300,000, the same as the previous month.
In February, the unemployment rate for young people (ages 15-24), the highest among unemployed in Japan, was 4.9%, and the unemployment rate for young people (ages 15-29) in Korea was 10.1% and 416,000 people. It showed 9.5%.
President Moon Jae-in said at a ceremony on the 31st of last month to commemorate the Day of Commerce, “The time for economic rebound is approaching. The economic recovery will accelerate and the spring will accelerate,” he said. “I am particularly grateful to the companies who kept their jobs. “We will increase the employment maintenance support ratio to 90% and expand the target industry to protect a single job.”