South Korea Q2 graduate unemployment tops 480,000, youth rates surge

In the second quarter, the number of South Korean job seekers with a university degree rose above 480,000, the highest level in five years. Compared with the same period last year, the figure increased by 39,000; total unemployment reached 855,000, up 11,000.

Young adults were disproportionately affected: 179,000 people in their 20s and 130,000 in their 30s were unemployed, together accounting for about 64 % of all graduate jobless. The unemployment rate for 20‑year‑olds hit 8.3 %, a rise of 0.6 percentage points from a year earlier, while the rate for 30‑year‑olds rose to 2.9 %.

First‑time job seekers without prior work experience also grew, reaching 56,000, an increase of 7,000 over the previous year. Among them, 48,000 were in their 20s, up by 11,000. Analysts attribute the tightening labour market to firms favouring experienced hires, a reduction in entry‑level recruitment linked to the spread of artificial‑intelligence technologies, and an expanding pool of graduates due to higher college enrolment. They call for policies that support youth entry into the labour market and for companies to expand hiring of fresh graduates.