 |
| Military service members, many of them conscripts in their 20s, join a job fair for military personnel at KINTEX in Goyang, Gyeonggi Province, Tuesday. Yonhap |
By Yi Whan-woo
Fewer Koreans in their 20s are getting new jobs but their employment rate is rising, in the face of a population decline that "misleadingly" represents a tough job market for young people.
According to the Korean Statistical Information Service (KOSIS), a website run by Statistics Korea, Friday, a total of 3.75 million jobs were added for those aged 20 to 29 in August, down from 3.84 million a year earlier.
The downside of the employment conditions for the twentysomethings is also shown by the number of economically inactive Koreans.
Those in their 20s who are neither working nor actively seeking jobs outside the labor force reached 384,000 in August, up 28,000 year-on-year.
The August figure also marked the fifth consecutive month of year-on-year increases in the number of economically inactive people for the age group.
The employment rate for those in their 20s, on the other hand, increased from 62.8 percent to 63.1 percent during the same period, raising questions over how well young people are faring in the job market.
Statistics Korea said the contradiction between job creation data and the employment rate for twentysomethings is related to the dwindling population. "Comparative and comprehensive analysis of multiple indexes is therefore always necessary to avoid statistical misinterpretation," it said.
 |
It explained the employment rate for those in their 20s increased because their total population has been dwindling, down 192,000 over the past year through August.
The employment rate figure could be interpreted as meaning more young Koreans are working, but in reality it illustrates that the actual number of newly hired twentysomethings is decreasing.
Statistics Korea said the risk of misinterpretation of job data for the age bracket could last into the coming years, as the population of the age bracket continues to fall.
The job market has grown challenging for younger people, with the country losing 36,000 jobs year-on-year in August.
People aged 60 or older led the overall employment gains, with a 304,000 year-on-year increase in their number of jobs.
The numbers for those in their 50s and 30s also rose 73,000 and 64,000, respectively, over the period.
![[INTERVIEW] Ex-NIS chief urges politicians to stop misusing spy agency](https://img.koreatimes.co.kr/upload/thumbnailV2/59da8df88faa4a50ad42945501b03bca.jpg/dims/resize/178/optimize)
![[REVIEW] Musical 'Monte Cristo' returns with riveting tale of vengeance, love](https://img.koreatimes.co.kr/upload/thumbnailV2/3934be1fa6844478b619a015d610bc5b.jpg/dims/resize/178/optimize)
![[INTERVIEW] Meet the man behind giant rubber ducks that once took over Seoul](https://img.koreatimes.co.kr/upload/thumbnailV2/df32c60c8204448e98ccdb9841366bec.jpg/dims/resize/178/optimize)
