In December last year, the number of youths who did not work or search for jobs increased by over 12% compared to a year ago. The state of emergency and domestic recession are analyzed to have negatively impacted employment indicators. Although the population of youths has decreased, the number of youths not working or job hunting has actually increased. The number of 'involuntary part-time workers' who want to work more due to fewer working hours has also seen a significant rise.
According to the Korean Statistical Information Service (KOSIS) on the 19th, the population of youths aged 15 to 29 who were 'inactive' last month reached 411,000, a 12.3% increase from 366,000 a year earlier. During the same period, the total population of youths was 8.055 million, a 3% decrease from 8.306 million the previous year.
The 'inactive' population includes individuals who do not work or search for jobs without a clear reason, classified as economically inactive population.
As of December, the inactive youth population was recorded at 485,000 during the COVID-19 pandemic in 2020, then decreased yearly starting from 409,000 in 2021 to 406,000 in 2022 and 366,000 in 2023. However, in December last year, it turned to an increasing trend after four years.
Looking at the annual data, the inactive youth population is at its highest since 448,000 in 2020. Last year, the inactive youth population was 421,000, an increase of 21,000 compared to the previous year.
As of December last year, the number of unemployed youths also increased by 2,000 compared to the previous year. The unemployment rate rose from 5.5% in 2023 to 5.9% last year, a 0.4 percentage points increase.
The situation of youths who sought jobs is also not favorable. As of December last year, the number of youths with potential for additional work related to hours was 133,000, a 37.4% increase from 97,000 a year earlier. This marks the first increase since 2020.
Those with potential for additional work related to hours refer to individuals who work less than 36 hours per week but are willing and able to take on additional work. This includes those who responded in a statistical survey that they want to increase their working hours, seek additional work beyond their current job, or want to switch to a job that allows for more working hours.
Those with potential for additional work related to hours are counted as employed statistically, but many hold temporary or short-term jobs, thus referred to as 'involuntary part-time workers.' This indicates that youths are entering short-term jobs amid a limited number of regular job opportunities.
In fact, the number of youths in a 'long-term unemployed' state is on the rise. According to a supplementary survey on the economically active youth population, as of May last year, the number of youths with unemployment periods of over three years was 238,000, an increase of 20,000 (9.3%) from the previous year. The number of youths with unemployment periods of six months to less than one year has also increased by 20,000 (12.4%) in a year.