South Korea’s unemployment rises among college graduate
In October, 119,000 individuals reported being jobless for more than six months despite actively seeking work, marking the highest figure in four years, according to Statistics Korea. During the COVID-19 pandemic in 2020–2021, long-term unemployment hovered just above 100,000 but had remained lower until last month’s spike.
Of the 658,000 unemployed nationwide in October, 18.1% were long-term unemployed. Among them, 35,000 people in their 20s and 30s with at least a four-year degree were affected—the highest number since September last year, when it was 36,000.
Although the number of young people “taking a break” from job searching has declined, experts warn that the problem of job mismatches for highly educated youth persists.
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