BlockBeats News, July 23rd, The South Korean national statistics agency today released a survey showing that the employment situation for young people after graduation continues to deteriorate. Nearly half of the young people who have been out of work for more than a year since graduation, and the proportion of those who have been unemployed for more than three years has reached a new high in 21 years.

The data shows that as of May this year, among young people aged 15 to 29 who have graduated, the number of employed youth has decreased by 202,000 year-on-year to 2.76 million, while the number of unemployed has increased by 31,000 to 1.243 million. The job search period after graduation continues to lengthen. Among the unemployed youth, 48.6% have been unemployed for more than a year, an increase of 2 percentage points from the same period last year's 46.6%, reaching the highest level since the 2009 global financial crisis (51.7%).

Among them, the proportion of long-term unemployed youth who have been unemployed for more than three years accounts for 19.4% of all unemployed youth, reaching the highest level since the relevant statistics began in 2007. In addition, young people who have had employment experience after graduation account for 84.8%, the lowest level since the relevant statistics began in 2004. As the employment environment deteriorates, the willingness of young people to apply to ordinary companies has decreased, instead opting to apply for civil service positions.

The person in charge of the relevant statistics stated that the improvement in the treatment of grassroots civil servants is one reason, and more importantly, companies prefer job seekers with experience and there has been an increase in temporary recruitment, making the youth employment environment more challenging than in the past.