Korea’s overall employment rate is rising on the back of a record increase in government-funded jobs for older adults, while prospects for youth employment remain bleak.
The employment rate for people in their 60s has continued to climb, reaching into the 60-percent range and narrowing its gap with that of people in their 20s.
The government must not settle for headline data numbers.
The number of young Koreans is forecast to halve in 30 years amid a rapid aging trend and a record low birthrate, according to Statistics Korea on Monday.
The number of employed people came to 28.7 million in August, up 268,000 from a year earlier, according to Statistics Korea Wednesday.
Korea added jobs for the 20th straight month in October, data showed Wednesday, but the growth continued to slow for the fifth month in a row as the country braces for a possible recession amid high inflation and slowed growth.
The employment rate of students with bachelor’s, master’s or doctorate degrees fell to a record low last year as the Covid-19 pandemic dealt a severe blow to job markets, government statistics showed Monday.
Korea JoongAng Daily Sitemap
