More than 65 per cent of the 2,713 respondents said they had virtually stopped trying to land the jobs they want. The growing frustration felt by young job seekers was reflected in a recent survey conducted by the research institute of students and graduates from universities across the country. Among them, nearly 100,000 had completely given up looking for a job. During the first half of this year, they hired only 1,911 workers.Īs of May, the number of people in their 20s who have remained jobless for more than three years stood at 278,000. The data also showed that 36 major public corporations here recruited 6,833 new employees last year, down from 9,326 in 2019. Regular jobs at large private companies and public corporations, which are preferred by most young job seekers, have continued to decrease in recent years.Īccording to data from the Korea Economic Research Institute, a private think tank, the number of workers hired by the country's 30 largest business groups fell by nearly 20,000 over the previous year to slightly over 1.31 million in 2020. Since coming to office in 2017, the Moon administration has pushed for an income-led growth policy by taking a set of measures purported to be labour-friendly, such as steep minimum wage hikes, the rigid implementation of a shortened workweek and pressure on firms to turn temporary positions into regular ones.īut this approach has only resulted in forcing employers to cut their payrolls to reduce growing personnel costs.
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