Employment Dwindles Among 30-Somethings

      May 20, 2014 08:21

      The number of employed people has been increasing across most age groups so far this year except those in their 30s.

      More than 835,000 more people were employed in February compared to the same month last year, the biggest increase in 12 years.

      But the number of employed people in their 30s dropped by 6,000 in February, 24,000 in March and another 60,000 in April.

      Across all other age groups the employment rate rose in April, by 52,000 for those in their 20s and 68,000 for those in their 40s.

      Why the decline in jobs for people in their 30s? The government blames a rapid decrease in the number of people in that age group.

      As of April this year, there were 7.75 million Koreans in their 30s, down 115,000 from a year ago. Over the same period, the number of people in their 20s increased by 37,000 and that of 40-somethings by 22,000.

      Over the past year, the number of people who turned 40, i.e. were born between 1973 and 1974, outpaced the number who entered their 30s or were born between 1983 to 1984.

      But there was very little change in the number of people entering their 20s and 40s. Oh Sang-woo at the Ministry of Strategy and Finance said, "People had more children in the 1970s than they did in the 1980s, and this trend is starting to be reflected in employment figures."

      Unemployment is still far greater among people in their 20s.

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