Youth Unemployment Hits Record High Level Since 2000
Youth Unemployment Hits Record High Level Since 2000
  • By Monica Chung (monica@koreaittimes.com)
  • 승인 2015.07.27 09:33
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The number of the unemployed in their 20s during the first half of this year has hit a record-high level. It was largely because of fewer job positions available due to the economic slump and more temporary workers quitting their jobs prematurely.

According to the National Statistical Office on July 26, the number of the jobless of those aged between 20 and 29 in the first half reached 410,000, up by 27,500 from 382,500 from the same period a year ago.

This is the highest level since 2000 when the statistical office began collecting the data. The figure fell to 308,000 in 2013 from about 330,000 in 2009 and 2010 and has since increased slightly. Economists attributed this to the protracted recession and job insecurity. Amid the situation in which economic growth rate hovers around 1 percent, companies tend to here workers under a temporary or contractual basis.

As of the end of May this year, the share of young workers in their age between 15 and 29 who took their first job for which they had to quit immediately upon expiration of their contract terms was 34.8 percent. For this reason, the average length of service for young workers in their 20s was only 14 months. In response, the government will announce plans to revitalize the youth job market on July 27


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