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Resurgence in long-term unemployment hits young Koreans hard

Published: 08 Apr. 2025, 18:44 Updated: 08 Apr. 2025, 21:15

A job seeker looks at postings at an employment and welfare center in Mapo District, western Seoul, on March 17. [YONHAP]

The number of young Koreans facing long-term unemployment rose in 2024, breaking a four-year streak of steady improvement and raising alarm about the nation’s labor market recovery, according to a report released Tuesday by the Korea Enterprises Federation (KEF).

The report found that 69,000 people aged 15 to 29 remained jobless for more than four months last year — the threshold used by the Bank of Korea (BOK) to define long-term unemployment. The figure marks an increase of 2,000 from 2022 and the first year-on-year rise since 2018.

Young adults made up 30.2 percent of the country’s 227,000 long-term unemployed in 2023, the highest proportion among all age groups. Those in their 30s accounted for 22.3 percent, or 51,000 individuals. Together, people under 40 represented more than half all long-term job seekers.

The KEF warned that the resurgence of long-term unemployment among youth — particularly those with limited work experience — threatens to stall overall job market recovery. The BOK estimates that each additional month without employment reduces an individual’s chances of securing a job by 1.5 percentage points.

The report also noted that extended periods of joblessness can stigmatize candidates and discourage them from reentering the work force altogether, amplifying the risks of labor force detachment.

Translated from the JoongAng Ilbo using generative AI and edited by Korea JoongAng Daily staff.

BY JEONG JAE-HONG [[email protected]]