SEOUL (ANN/THE KOREA HERALD) – South Korea’s young jobseekers are facing the harshest labour market in over 12 years, with the number of employed people in their late 20s dropping even more sharply than during the COVID-19 pandemic.
The decline — caused by a shrinking economy, a drop in job vacancies, and an increasing demand for seasoned hires — is leaving numerous young Koreans unable to find employment while they seek to start their careers.
According to Statistics Korea, employment among people aged 25–29 fell by 98,000 in the first quarter of 2025 compared to the same period last year — the largest drop since the third quarter of 2013. It’s also the ninth straight quarter of year-over-year job losses for this age group.
This drop continues even when considering the shrinking size of the youth population. Although the number of people in their late 20s decreased by approximately 69,000, the labour force — those working or actively looking for work — dropped by 85,000. Unemployment rose, as another 13,000 young people were recorded as officially unemployed, leading to a rise of 0.6 percentage points in the unemployment rate.
One clear sign of the worsening job market: the number of online job postings is in free fall.
The latest data from the Korean Statistical Information Service’s Big Data Nowcast shows that the 4-week moving average of online job listings on JobKorea, a major employment platform, dropped by 57.9 per cent in March 2025 compared to January 2020. That’s the lowest level since the government began tracking the data in 2020 — and worse than during the height of the pandemic.
The 4-week moving average smooths out week-to-week fluctuations to show the broader trend in hiring activity.
The hiring slowdown cuts across almost every sector. Job ads in business support services have plummeted nearly 90 per cent since 2020. Education is down 50 per cent. Even manufacturing, a traditionally stable field for young jobseekers, saw postings fall more than 20 per cent.
Employment data echoes the trend: In March alone, South Korea lost 112,000 manufacturing jobs compared to a year earlier — the worst hit in over four years. Construction jobs fared even worse, down a record-breaking 185,000.
Behind this lies a wider economic crisis. South Korea’s economy has struggled to regain momentum due to the political turmoil that arose late last year, resulting in then-President Yoon Suk Yeol being impeached and ousted from office following his contentious announcement of martial law. The chaos rattled investor confidence, froze policy action, and triggered market volatility. With domestic demand weak and export industries pressured by US trade tensions, businesses are scaling back.
A survey of large firms by the Korea Employers Federation found that only 60.8 per cent plan to recruit new hires this year — down from nearly 67 per cent in 2024 and the lowest since 2022.
“Uncertainty at home and abroad has made companies more risk-averse,” said Lim Young-tae, head of employment policy at the Federation. “They’re prioritising candidates with experience, which makes it even harder for young people to land their first job.”
