Recent data reveals that South Korea’s average number of unemployed individuals in the first quarter of 2025 surpassed 1.029 million, marking an increase of 490,000 from the previous year. This figure crosses the 1 million threshold for the first time since 2021, when it peaked at 1.38 million.
Unemployment Trends Over Recent Years
The number of unemployed people followed a downward path after 2021, dropping to 990,000 in 2022 and 918,000 in 2023. It then stabilized at 960,000 in 2024 before climbing to 980,000 in early 2025. Despite a brief recovery, the three-year consecutive average remains above 1 million.
Youth Unemployment Drives Surge
Among the total, youth aged 15-29 account for 272,000 unemployed individuals, representing 26.4% of the overall figure—one in every four. This group exceeds the all-age average by 10,000 people. The youth unemployment rate stands at 7.4%, a 0.6 percentage point rise year-over-year and the highest level since 2021’s post-pandemic peak of 9.9%.
Government Concerns Mount
Officials express alarm over the employment slowdown, particularly among youth. Direct job creation efforts show limited success, as many newly counted unemployed previously fell into economic inactivity. Analysis indicates that youth shifting from inactivity to active job-seeking contribute significantly to the rise. Even those engaging in low-activity economic pursuits, such as part-time gigs or self-employment, now register as unemployed, amplifying the numbers.
Youth Employment Hits Historic Low
Meanwhile, the number of employed youth in the first quarter dropped to 3.423 million, a decline of 156,000 from last year. This marks the 14th straight quarter of contraction and the lowest level since comprehensive records began in 1980.
