South Korea Employment Rate Falls With 29.12 Million Working as Youth Jobs Drop 255,000
Updated
Updated · 코리아타임스 · Jun 13
South Korea Employment Rate Falls With 29.12 Million Working as Youth Jobs Drop 255,000
3 articles · Updated · 코리아타임스 · Jun 13
Summary
29.12 million South Koreans were employed in May, down 40,000 from a year earlier, marking the first employment-rate decline in 17 months.
255,000 jobs disappeared among people aged 15 to 29, while employment also fell for workers in their 40s even as AI-led investment, strong semiconductor exports and record first-quarter GDP growth lifted the broader economy.
Labor Minister Kim Young-hoon cited fallout from the Middle East war as another drag on the labor market, adding to concerns that growth is not translating into hiring.
15.2% of people in their 20s and 30s were in the bottom 20% for net assets and income in 2025, up from 7.9% in 2020, underscoring widening generational inequality as policymakers push an AI-driven growth agenda.