Korea – Youth unemployment rate highest in 15 years

The nation’s youth unemployment reached the highest this year since 2000, raising serious concerns about the government’s labor policies especially for the country’s younger population, as well as the limited job security among young contract workers.

The number of unemployed young Koreans, which stood at 330,000 back in 2013, rose to 380,000 last year, and reached 410,000 in the first half of this year. This is the second consecutive year for the youth unemployment rate to peak since 2000 — when the country was still reeling from the aftermaths of the 1997 Asian financial crisis.

Chosen excerpts by Job Market Monitor. Read the whole story at Youth unemployment rate in Korea reaches highest in 15 years.