Record-high college graduates not working or looking for jobs


The number of economically inactive South Koreans with a college degree hit a record high in the first half of this year, with 4.058 million people falling into this category, according to government data. This figure includes individuals aged 15 or older who are unable or unwilling to work due to various reasons such as being students, homemakers, or those preparing for government exams. The number of economically inactive citizens with higher education increased by 72,000 compared to the same period in 2023, marking the highest first-half figure since the government began recording data in 1999. The ratio of college graduates among the non-working population also reached a new high, accounting for 25.1 percent in the first half of this year. In addition, the report highlighted the challenges faced by the country's youth population, with 591,000 college-educated individuals aged 15-29 being economically inactive with no specific reason for not working. On the employment front, about 31.4 percent of the 15-29 age group who found jobs in May reported that their first job was non-guaranteed, with a contract duration of one year or less, marking an all-time high since the government began keeping records in 2008. These statistics underscore the difficulties faced by both educated and young job-seekers in South Korea's labor market.


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