Available Jobs for Graduates Dwindle

  • By Kwak Soo-keun

    December 29, 2020 13:13

    The employment rate for university graduates declined last year while the employment gap between men and women widened.

    The employment rate of those with bachelor or higher degrees fell 0.6 percentage point to 67.1 percent. According to the Ministry of Education on Monday, 323,038 graduates or 67.1 percent of them found jobs last year.

    The latest study was conducted among 550,354 graduates who received their diplomas between August 2018 and February 2019.

    Some 291,929 started their career as salaried workers, 2,853 found jobs overseas, 6,137 opened their own business and 18,347 became freelancers.

    But the gap in employment between men and women continued to grow with 69 percent for men and only 65.2 percent for women. The figures for both men and women declined on-year, but the rate of decline for men was smaller.

    The average monthly income of those with bachelor degrees last year was W2.42 million and for those with higher degrees W4.46 million (US$1=W1,096).

    They mostly found jobs in small and mid-sized companies (46 percent), followed by nonprofit organizations (16.8 percent), major conglomerates (10.9 percent), mid-sized conglomerates (8.4 percent), state-run companies (8.2 percent) and provincial governments (6.1 percent).

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