Youth Unemployment in Korea – An over 12-year high among those with no job experience

Unemployment among young South Koreans with no prior job experiences reached an over 12-year high last month, government data showed Tuesday, a sign of growing economic uncertainty that is affecting the labor market.

There were some 95,000 people in their 20s and 30s who never held a job before and were not employed in April, Statistics Korea said. Of the total, 89,000 were people in their 20s.

This is the highest number since 97,000 were tallied in January 2003. The number is equal to 15.1 percent of all unemployed people in the cited month.

The increase is noteworthy because in the past, unemployment usually peaked in February when people graduated from school and started to fall in the following months.

Chosen excerpts by Job Market Monitor. Read the whole story at Unemployment among youth with no job experience hits 12-year high.