"In fact, more than 1 million young people in South Korea are unemployed." the Korean Herald reported on this topic on the 26th that the real unemployment rate of young people in South Korea is much higher than the official data previously released. One in four young people in South Korea has no stable job.
According to government statistics, the unemployment rate of young people aged 15 to 29 in South Korea was 9.8% in July. However, this figure does not include part-time workers and temporary workers, and does not truly reflect the current tense job market in South Korea. According to the supplementary data provided by the Korean Bureau of statistics, considering the people who work less than 36 hours a week and want to change jobs and the people who work quarterly, the unemployment rate of young people should be 23.8%. If the unemployment rate is 9.8%, the number of unemployed young people in South Korea is 435000, while 23.8% statistics show that this number is between 1.05 million and 1.21 million.
It is reported that the youth unemployment rate in South Korea has continued to rise since 2016. Although the government emphasizes that the situation has improved recently, a professor at the Korean Institute of labor said that the government is improving part-time or short-term jobs rather than stable jobs. After moon Jae in May 2017, he set up an electronic dashboard in the presidential office to monitor the number of jobs created. Many young people are expecting this. However, after 27 months, the situation has not fundamentally improved. In 2018, the economic environment deteriorated, and a large number of university students took the student loans into the society. The poor job opportunities led to the support rate of moon Jae in the school below 30%. A Seoul poll shows that about one-third of families believe that the high youth unemployment rate is the most important problem this year.