South Korea's youth employment dipped to its lowest level in 19 years in August as the job market remained tight due to a prolonged economic slump, according to a report from the Ministry of Strategy and Finance Monday.
The number of job-holders in their 20s and 30s hit 9.52 million last month, down 2.8 percent from a year earlier and the lowest figure since April 1990, the report said.
The latest findings reflect the downturn in South Korea's job market following the collapse of Lehman Brothers in late September of 2008 and a general trend of limited hiring since the 1997-98 Asian financial crisis, according to Yonhap News Agency.
The Lehman Brothers meltdown hurt international trade, private consumption, business investment and production, taking a toll on new hiring.
Last September, employment among people in their 20s and 30s stood at 9.85 million, but it fell to 9.75 million in December and 9.51 million in February of this year.