Employment among people in their 20s falls at fastest pace since 1998
The number of employed people in their 20s fell at the fastest pace this year since the 1998 Asian financial crisis, data showed Sunday, amid a trend toward entering the labor market at a later age. The number of employed people in their 20s averaged 3.38 million in the January-August period, down 193,000 from the same period a year earlier, according to data compiled by the Korean Statistical…
Employment among people in their 20s experienced its most rapid decline since the 1998 Asian financial crisis, according to recent data. Over the January-August period, the number of employed individuals in this age group dropped by 193,000, falling to an average of 3.38 million, a decrease of 5.6% compared to the same period last year.
The employment rate for this demographic fell to 59.1%, marking its first time below 60% in five years, as the population in this age group decreased by 3.5% on-year to an average of 5.55 million. In contrast, employment among people in their 30s grew, with a population increase of 83,000 to 6.94 million and employment rising by 103,000 to 5.6 million.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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