New Hires Decline for Third Consecutive Year, Job Market Entry Worsens

The number of new hires has decreased for three consecutive years, reaching its lowest point since relevant statistics began. This is interpreted as a signal that it is becoming increasingly difficult to enter the job market.

The National Data Agency released the '2024 Job Mobility Statistics Results' on the 4th, reporting that the total number of registered employed individuals as of 2024 increased by 0.4% to 26.25 million compared to last year. However, new hires who found jobs for the first time numbered 3.482 million, a decrease of 4.5%. The decline in new entrants lowered the entry rate—the proportion of new entrants among all employed individuals—to 13.3%, the lowest on record since the statistics began being compiled in 2017.

The number of workers maintaining their employment status within the same company increased by 2.0% year-on-year to 18.92 million, pushing the retention rate up to 72.1%. Job movers between companies decreased by 2.6% year-on-year to 3.848 million, lowering the mobility rate to 14.7%. Among job movers, those who accepted a pay cut accounted for 41.3%, an increase from 38.4% in the previous year.