South Korea’s employment situation has deteriorated, with the proportion of people who graduated over three years ago remaining unemployed hitting a 21-year high.

A survey released today by South Korea’s national statistics agency shows that youth employment conditions continue to deteriorate. Nearly half of graduates who have been out of school for over a year remain unemployed, while the share of those out of work for more than three years has hit a 21-year high. Data as of May this year shows that among graduates aged 15 to 29, the number of employed youth dropped by 202,000 year-on-year to 2.76 million, and the unemployed rose by 31,000 to 1.243 million. The job search period for graduates has been lengthening. Among unemployed youth, those out of work for over a year account for 48.6%, up 2 percentage points from 46.6% a year earlier, the highest level since the 2009 global financial crisis (when the rate stood at 51.7%). Long-term unemployed youth out of work for more than three years make up 19.4% of all unemployed young people, the highest since relevant statistics began in 2007. Additionally, the proportion of graduates who have had work experience after graduation is 84.8%, the lowest level since such statistics started in 2004. As the employment environment worsens, young people’s willingness to apply for regular private sector jobs has declined, while the number applying for civil service positions has increased. A statistics official noted that improved treatment for grassroots civil servants is one factor, but more importantly, companies increasingly prefer experienced candidates and temporary hiring has risen, making youth employment conditions more difficult than in the past.