SEOUL — A record number of South Korean youths opted to remain economically inactive in July, choosing not to seek employment amid ongoing economic uncertainties and stiff job competition, according to new data released on Sunday. The number of individuals aged 15 to 29 who are neither employed nor actively looking for work reached 443,000 last month, an increase of 42,000 from the previous year, marking the highest level recorded for any July.
According to Yonhap News Agency, this group comprises young people who are not hindered by illness or disability but choose to take a break from the workforce without specifying a reason. Among them, 75.6 percent have no intention of seeking employment in the near future, citing a lack of suitable job opportunities as a primary deterrent. The trend of increasing economic inactivity among youth has been notable, with numbers consistently above 200,000 from 2013 to 2016, but the figure jumped to 441,000 in 2020, influenced heavily by the COVID-19 pandemic.
The data also highlighted that the number of economically inactive youth now surpasses those in their 30s and 40s, which stood at 288,000 and 284,000, respectively, in July. This shift underscores a growing disinterest in traditional employment paths among the younger generation, driven by both the changing economic landscape and evolving career expectations.