According to the article in The Korea Times, finding job is becoming more and more difficult for the younger Koreans:
"The latest statistics on employment epitomize our miserable socio-economic reality resulting from a low birth rate and aging population. According to the National Statistical Office (NSO) Thursday, the number of employed among those in their 20s stood below four million in February, marking the lowest point in 21 years. In addition, the number of workers in their 30s also fell to an eight-year low in the same period.
That showed that the job opportunities for young people are narrowing while our labor force is aging. The unemployment rate of 7.9 percent among the young is more than twice as high as the overall unemployment rate of 3.5 percent. However, the reality is more serious than the statistic because the real unemployment rate could go as high as 15.4 percent if those who have given up trying to find jobs are included in the unemployment statistics.
A worrisome fact is that a growing number of young people are giving up hope of finding jobs due to dwindling opportunities. It is heartening to hear that the number of those employed in their 40s and 50s are increasing, but it is a bit unnatural to see an improvement in job opportunities for the middle aged at a time when those in their 20s and 30s are deprived of economic opportunities."
Complete article: link
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