Difficulty finding employment even after graduating from university... Highest number of ”highly educated people in their 20s and 30s who are long-term unemployed” in South Korea in 13 months

The number of highly educated unemployed people in their 20s and 30s with a four-year college degree or higher in South Korea has reached a 13-month high. As a result, the number of long-term unemployed people who have been looking for work for six months or more has also reached a four-year high.
According to the Korea Statistics Agency (formerly the Korea Information and Data Agency) National Statistics Portal (KOSIS) on the 16th, as of last month, 100 people had been looking for work for more than six months but had not been able to find a job.
The number of people who lost their jobs for the long term rose to 119,000. This is the largest number since October 2021 (128,000). The number of people who lost their jobs for the long term has increased by 20% since May 2020, during the COVID-19 pandemic.
The number remained consistently above 100,000 until December 2021, but has since generally fallen below 100,000, before rising sharply again last month.
Of the total number of unemployed people last month, 658,000, the proportion of long-term unemployed people was 18.1%, also 1
This was the highest level since statistics were compiled, which use January as the base year, and was higher than the 17.7% recorded in October 1999, when the effects of the foreign exchange crisis were still felt.
The proportion of long-term unemployed people fell to 9.3% in April this year, but recovered to double digits (11.4%) in May, and has since risen to 6.
The population has nearly doubled in just a few months. This increase is believed to have been driven in particular by people in their 20s and 30s with a college degree or higher. According to the Korean media outlet Yonhap News, the Economically Active Population Survey microphone
According to an analysis of data, the number of people in their 20s and 30s with a four-year college degree or higher who are long-term unemployed last month reached 35,000. This is the highest number in 13 months since September last year (36,000).
Looking at ages in five-year increments, the largest group was those aged 25 to 29, with 19,000 people. These people, who hold bachelor's, master's or doctoral degrees, have been unemployed for a long period of time, and as of March (2
On the other hand, the number of "young people who have given up on job hunting," or the population of people who are not in the workforce, has been on a downward trend. Last month, the number of young people who were not in the workforce was 409,000, the highest in a year.
The number of people in the labor force is down by 9,000 from the previous year, marking the sixth consecutive month of decline compared to the same period last year. However, experts say that if the long-term unemployed give up looking for work, they will immediately move into the non-employed population.
The problem is that while the young population is rapidly declining, the number of highly educated people who are long-term unemployed is actually increasing. The young population was 801 in March this year.
The number of people in Japan fell from 106,000 in April to 7,994,000 in April, falling below 8 million, and the number is trending downward by about 200,000 people each month compared to the previous year.
Kim Kwang-seok, a research fellow at the Korea Institute of Economics and Trade, said, "Young people with high education levels are looking to get jobs at large companies, but companies
"The employment contraction caused by the $350 billion investment in the United States and the development of AI technology will exacerbate the employment mismatch for young people," he said.
” he pointed out.