The Korean youth seeking jobs faced tougher circumstance in the job market in May amid the global recession, which discouraged companies from hiring workers, according to data showed Wednesday.
The National Statistical Office (NSO) released a report that the number of employees aged between 15 and 29 stood at 4.04 million at the end of May, down 112,000 from the same month a year earlier. The total population in the age group was 9.79 million, down 32,000 from a year ago.
The employment rate among younger people reached at 41.3 percent, down from the 42.3 percent recorded a year ago, the data showed.
"The decline in employment is attributed mainly to worsening economic conditions which prehibited companies from hiring more workers," an NSO official said.
"Other factors included a decrease in the number of young people due to a low birth rate and a growing portion of college students who are not reflected in job data."
The data came as South Korea's labor market remains tight as companies are reluctant to hire workers for fear that economic conditions will become tougher down the road.
South Korea's jobless rate stood at 3.9 percent last month, up from 3.8 percent the previous month. The June figure is the highest level in three months.
Job creation has become one of the government's top priorities as it looks to boost domestic demand at a time when the global economic downturn is denting overseas shipments.
Meanwhile, employment conditions for seniors here also deteriorated in May, affected by tightened labor markets and a fast-aging population, which intensified competition among job-seekers, the latest data showed.
The number of employed senior citizens aged between 55 and 79 totaled 4.45 million for the month, up 46,000 from a year earlier. Their employment ratio fell 1 percentage point, however, to 48.9 percent as the population in the age bracket increased 270,000 to 9.11 million, according to the data.
Edited by Shin, Kirim
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