In the second quarter of this year, the number of unemployed college graduates exceeded 480,000, marking the highest level in five years. Notably, individuals in their 20s and 30s accounted for over 60% of this group, indicating that the downturn in the job market, particularly due to factors stemming from the Middle East, is disproportionately affecting younger workers.
According to the National Data Agency on July 19, the number of unemployed individuals with a college degree or higher reached 481,000 in the second quarter, an increase of 39,000 compared to the same period last year. This figure is the highest for a second quarter since the early days of the COVID-19 pandemic in 2021, when it was 521,000.
By age group, 179,000 individuals in their 20s and 130,000 in their 30s were reported as unemployed. Together, the unemployed college graduates in their 20s and 30s totaled 309,000, representing 64.2% of the total. Compared to a year ago, the number of unemployed college graduates in their 20s increased by 7,000, while those in their 30s rose by 27,000.
As a result, the unemployment rate for those with a college degree or higher rose to 3.0%, up 0.2 percentage points from a year earlier. The unemployment rate for college graduates in their 20s increased to 8.3%, a rise of 0.6 percentage points, the highest for the same quarter since 2021 (9.6%). The rate for those in their 30s also increased to 2.9%, up 0.6 percentage points.
A notable trend in recent statistics is the rise in the number of unemployed job seekers with no prior work experience. In the second quarter, this group numbered 56,000, an increase of 7,000 from the same period last year. This marks the first year-on-year increase in this category since 2019.
Particularly concerning is the rise in unemployed job seekers with no work experience among those in their 20s, which increased by 11,000 to 48,000. This is the largest number recorded for the second quarter since 2021 (56,000).
According to the National Data Agency on July 19, the number of unemployed individuals with a college degree or higher reached 481,000 in the second quarter, an increase of 39,000 compared to the same period last year. This figure is the highest for a second quarter since the early days of the COVID-19 pandemic in 2021, when it was 521,000.
By age group, 179,000 individuals in their 20s and 130,000 in their 30s were reported as unemployed. Together, the unemployed college graduates in their 20s and 30s totaled 309,000, representing 64.2% of the total. Compared to a year ago, the number of unemployed college graduates in their 20s increased by 7,000, while those in their 30s rose by 27,000.
As a result, the unemployment rate for those with a college degree or higher rose to 3.0%, up 0.2 percentage points from a year earlier. The unemployment rate for college graduates in their 20s increased to 8.3%, a rise of 0.6 percentage points, the highest for the same quarter since 2021 (9.6%). The rate for those in their 30s also increased to 2.9%, up 0.6 percentage points.
A notable trend in recent statistics is the rise in the number of unemployed job seekers with no prior work experience. In the second quarter, this group numbered 56,000, an increase of 7,000 from the same period last year. This marks the first year-on-year increase in this category since 2019.
Particularly concerning is the rise in unemployed job seekers with no work experience among those in their 20s, which increased by 11,000 to 48,000. This is the largest number recorded for the second quarter since 2021 (56,000).
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.