제 24 호 The Number of Young Unemployed Exceeds 700,000
Kicker: SOCIETY
The Number of Young Unemployed
Exceeds 700,000
by Ji-Won Choi, Reporter
The number of young South Koreans who are unemployed has recently surpassed 700,000. According to the Korea National Statistical Office, 680,000 young people in their 20s and 30s reported that they were simply "resting" without any specific reasons such as illness or disability. This is the highest number since the relevant statistics were first compiled in 2003 and represents a 20,000-increase compared to 2020, when the COVID-19 pandemic hit. The fact that the youth, the future of our society, are unable to find jobs is a serious issue. So, what are the reasons behind this growing trend?
Why Young People Are Resting
A survey conducted by the Statistics Korea showed that the main reasons why young people are unemployed are: 'difficulty in finding a job that meets their expectations,' 'taking a break to prepare for the next job,' 'poor health,' and 'lack of jobs,' in that order. The primary reason for these responses is economic. South Korea's economic growth rate was only 1% in 2023. In such a low-growth environment, job instability and a shortage of jobs are inevitable. Due to the lack of jobs, the number of good jobs is limited, leading to fierce competition for high-paying positions. In a situation where there are no alternatives to this problem, the structural contradiction of the labor market, which expects young people to simply lower their expectations, exacerbates this phenomenon. As a result, young people are excessively focused on building their resumes. Furthermore, government policies have not been very effective. Only 1,058 young people found jobs through the government's "National Employment Support Program," which is less than 20% of young people. For this reason, the number of "freeter," young people who make a living solely through part-time jobs without seeking full-time employment, is on the rise. The reason why young people cannot find the jobs they want is the large gap in wages between large and small companies. The number of what we consider "good jobs" is small and limited. As a result, young people's values are changing, and they believe that it is better to work part-time than to feel burdened by organizations and social life.
Impact of Youth Unemployment Increase
So, what are the implications of this phenomenon? First, young people may become socially isolated, negatively impacting their personal lives. There are about 510,000 "reclusive youth" nationwide who do not go outside or engage in social activities. These individuals may experience deteriorating mental health, lowered self-esteem, and a decline in their quality of life. This also affects society as a whole. As the number of young people not engaged in economic activities increases, government spending also increases, burdening the national budget. In fact, unemployment benefits and basic livelihood benefits are provided to young people who are not working. This expenditure exceeds 200 billion won annually.
Additionally, national productivity decreases, leading to a decline in GDP. Moreover, if young people's entry into society is delayed, the time at which they can live on a stable income is also delayed. This delays the timing of young people's homeownership, marriage, and childbirth. Therefore, the issue of youth unemployment is not simply a matter of an increasing number of unemployed young people but a societal issue.
The Efforts of the World's Nations to Help Young People Become Employed
Youth unemployment is a global issue, not just a domestic one. Accordingly, governments around the world are proposing solutions. The United States has defined individuals aged 16-24 who have not been engaged in employment or education training for at least one year as "disconnected youth." The US supports disconnected youth by focusing on programs that provide education to help them re-enter the labor market.
Germany emphasizes an "educational chain program" for unemployed youth. As a solution, it ensures that young people successfully complete vocational training. It provides personalized support so that students can systematically explore careers at an early age. This includes individual potential analysis, career exploration programs, career choice paths, and support for vocational training.
Finland provides jobs, learning spaces, workshops, and rehabilitation periods within three months for graduates or unemployed young people. South Korea should also strengthen its system for addressing youth unemployment by referring to the cases of these countries. Unlike Germany, South Korea's support policies are fragmented. It tends to focus on creating short-term jobs, such as public service and part-time work, making it difficult for young people to find stable employment. Moreover, there is a tendency to focus on increasing short-term employment rates while neglecting the development of diverse career exploration programs that allow individuals to discover their strengths and interests. Furthermore, there is a tendency to attribute these phenomena to individual problems of young people. Negative terms such as "N-generation" are used to create negative perceptions. It is necessary to change the negative social perception of "unemployed youth."
Youth unemployment is no longer an individual problem but a societal challenge that demands our collective attention. Governments must implement comprehensive support programs to empower young people to build stable lives, while businesses should prioritize hiring and nurturing young talent. It's imperative that we, as a society, rally behind our youth, fostering an environment where they can thrive and contribute meaningfully. The time has come for us to invest in our future generations.
Sources:
https://www.mk.co.kr/news/economy/11068815
http://www.m-economynews.com/news/article.html?no=45533
https://www.chungnamilbo.co.kr/news/articleView.html?idxno=792904
