First Release of Youth Statistics: Including Those in Their 30s Narrows the Extent of Employment Deterioration
According to the September Employment Trends released by Statistics Korea (National Data Agency) on the 16th, the number of employed people aged 15 and over stood at 29.266 million last month, up 113,000 from the same month a year earlier. On a cumulative basis, third-quarter employment grew by 135,000 compared to the same period last year.
This month, the official definition of youth was broadened from ages 15–29 to 15–34, and the first release of youth statistics including those in their early 30s showed a narrower deterioration in youth employment indicators. The September employment data marked the first time statistics reflected the new youth definition. Following the revision of the Special Act on Employment Promotion of Youth, statistics treating ages 15–34 as youth have been published separately starting this month. Employment among those aged 15–34 in September fell by 98,000 from a year earlier—a smaller decline than the 147,000 drop under the previous 15–29 definition. The employment rate also fell by only 0.4 percentage points to 56.1%, compared with a 1.1 percentage-point drop for ages 15–29. Bin Hyun-jun, head of the agency's Social Statistics Bureau, explained, "Those in their early 30s enjoy greater employment stability than the 15–29 group, which offset the drop in the employment rate and somewhat slowed the rise in unemployment." In fact, the unemployment rate for ages 15–34 rose 0.1 percentage point to 4.2%, a better figure than for ages 15–29 (up 15,000 unemployed, with the jobless rate up 0.6 percentage point).
Employment among those aged 15–29 fell by 147,000, extending its decline to a 47th consecutive month, while the youth employment rate fell 1.1 percentage points to 44.0%, marking its 29th straight month of decline.
Manufacturing employment rose by 16,000 in September, the first increase since June 2024, ending 26 consecutive months of decline. Bin Hyun-jun attributed the gain to "increases in chemical products, metal processing, and other transport equipment, despite declines in automobiles and textiles."
By industry, domestically oriented sectors bore the heaviest employment burden. Construction lost 48,000 jobs, while accommodation and food services lost 97,000—the steepest decline since February 2021 (232,000). The agency attributed this to a base effect from last year's consumer coupon program, which had boosted employment growth.
Overall employment indicators, however, improved. The number of unemployed fell by 34,000 to 600,000 last month, with the unemployment rate at 2.0%—the lowest September figure since records began in 1999. Although the employment rate for those aged 15 and over fell 0.2 percentage point to 63.5%, the rate for ages 15–64, the OECD comparison standard, rose 0.2 percentage point to 70.6%, the highest September level since records began in 1989.
