Regular employment rises among older workers in Q3, falls among youth
More than 70 percent of the increase in regular employees in Korea in the third quarter came from workers aged 60 and older, while the figure for workers in their 20s and 30s declined, the statistics ministry said Sunday. The number of regular workers came to 16.84 million in the July-September period, up 167,628 from a year earlier, according to the Ministry of Data and Statistics. While those…
In the third quarter of 2023, employment among older workers in Korea experienced a notable rise, while youth employment saw a decline, according to data released by the Ministry of Data and Statistics. The total number of regular workers reached 16.84 million between July and September, marking a 167,628 increase compared to the same period last year.
The significant growth in regular employment was driven by workers aged 60 and above. This age group constituted less than 14% of all regular employees but accounted for 74.9% of the total increase, with their numbers rising by 125,573 from the previous year. The aging population in the country played a key role in this trend.
However, the situation for younger workers, particularly those in their 20s and 30s, took a downturn. The number of regular employees in their 20s dropped by 82,836 in the third quarter compared to the same period in 2022, marking the 15th consecutive quarter of decline since Q1 2023. Despite a slight population increase, the count for workers in their 30s also fell by 3,711 from the previous year. An August survey conducted by the ministry revealed that approximately 680,000 people were affected by this trend.
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.
