1.26 Million Young People Unemployed After Completing Education: Statistics

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Statistics Korea has revealed that more than 1.26 million young adults were without jobs after finishing their studies. On average, it took these individuals 10.4 months to find employment after graduating.

The data, which was collected from 8.42 million people aged 15-29, showed that 4.52 million had graduated from middle school, high school, or college. Of this number, 52.86 percent were college graduates and 1 percent had master’s or doctorate degrees.

36 percent of the unemployed young people stated that they were studying to find a job, while 25.4 percent said they weren’t making any attempts to secure employment. Moreover, 15.3 percent, or 591,000 people, said they had spent more than two years after graduation preparing for a job.

In July, South Korea’s jobless rate was at a record low of 2.7 percent. The number of employed people was 28.68 million, although jobs for people in their 20s and 40s decreased, while the opposite was true for those in their 50s and older.

This file photo taken Aug. 21, 2023, shows jobseekers attending a job fair in Seoul. (Yonhap)

graceoh@yna.co.kr
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