¼ of Young People Out of Work
11 April, 2019
Youth unemployment has soared to over 25 percent if those who work part-time or are economically inactive to prepare for public service exams are included.
The figure flies in the face of government claims to have improved the job market.
According to Statistics Korea on Wednesday, a total of 26.8 million people were employed as of March, a nominal increase of 250,000 from a year ago and up more than 200,000 on-year for the second month running.
But real unemployment stood at 12.6 percent overall, which is the highest since 2015, and a record 25.1 percent among people between 15 and 29. Statistics Korea blamed the increase on a rising number of people who are not actively looking for work.
The reason for the statistical anomaly is that most of the fresh jobs are part-time menial positions the government created for the elderly.
In fact, the number of employed people in their 30s and 40s, who constitute the backbone of the workforce, declined by 82,000 and 168,000, while jobs for people over 60 rose by 346,000.