[Editorial] Number of Employed Young People Falls for Fourth Straight Year... Do Older Generations Feel Any Sense of Crisis?

A long line forms to enter a job fair held at COEX in Seoul last April. Photo by Yoon Dongju

Employment among young people aged 15 to 29 has declined for the fourth consecutive year, marking 48 straight months of decline. In October, the number of employed young people fell by 196,000 from a year earlier. Coincidentally, employment among people aged 60 and older rose by exactly the same number. It is not that young people’s jobs were simply handed over to older workers. But the fact that one group is losing ground while the other continues to grow starkly illustrates the contrasting fortunes of different generations in the labor market.

The decline in employment cannot be attributed solely to worsening job prospects, given that the young population itself is shrinking. But the picture is different when the employment rate, which accounts for demographic changes, has also fallen for 30 consecutive months. The real problem is the barrier to getting a first job. A survey by the Ministry of Data and Statistics found that it took young people an average of 11.2 months to find their first job after leaving school. As companies increasingly favor experienced workers and the adoption of artificial intelligence (AI) reshapes jobs, opportunities for new graduates to gain experience have become even more important. Delays in getting started can also disrupt life plans, including housing and marriage.

At this point, we cannot help but ask the government and politicians: Is youth employment truly a national policy priority? The government says it will create at least 300,000 job and startup opportunities by 2030, and its budget for next year includes measures to support young people seeking their first jobs. But simply setting up programs and allocating funds does not prove that the government recognizes the urgency of the problem. Young people need jobs where they can build experience and plan for the future, not just opportunities to participate in support programs. The government should connect its industrial, education, and labor policies so companies can hire and train young people. Companies, too, should take responsibility for developing new talent instead of looking only for experienced workers. Politicians must not treat youth employment as an issue secondary to immediate political concerns.

A first job is where a young person’s future begins. If we allow the door to that first job to keep narrowing, the future of our entire society will be at risk. Are older generations sufficiently sympathetic to young people’s outcry? Are the government and politicians making this issue their top priority? They must take stock before it is too late.

This content was produced with the assistance of AI translation services.