More S. Korean youths stay out of job market

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(Xinhua)
Updated: 2008-10-17 10:15

SEOUL -- South Korea's percentage of economically active people -- those who are currently employed and those who are seeking employment -- in their 20s has fallen to a record low in September, the Korea Herald reported Friday.

According to the country's National Statistics Offices, only 62.7 percent of South Koreans aged between 20 and 29 were economically active last month, down 0.8 percentage points from the same month last year.

The figure is the lowest since the National Statistical Office began compiling the data in June 1999.

The NSO said the fall is due to the fact that young people are currently spending more time attending educational institutions and in training in preparation for employment as job market remains stagnant.

Those who are preparing for employment rose 11.5 percent in September from a year ago to 597,000.

Of those preparing for employment, people attending schools and private institutions increased 2.2 percent while those not attending such institutions increased 17.9 percent.

Meanwhile, the Ministry of Strategy and Finance said it will create more jobs for the country's young people by establishing 50 technical high schools and introducing internship programs by 2011.