Those between the ages of 15 and 29 who were not actively seeking work stood at 443,000 in July.
In November 2023, the Korean government announced it would inject nearly 1 trillion won to encourage young Not in Education, Employment or Training individuals to return to the job market.
The figure had stayed below 300,000 between 2013 and 2017, before surpassing it in 2018. It peaked at 441,000 in 2020 amid the Covid-19 pandemic but dropped to 361,000 in 2021. It had rebounded since. According to additional data from Statistics Korea, 75.6 per cent or 335,000 individuals of the youth Neet population responded “no” when asked whether they wanted to work or not.
The rise of young Neet individuals brought the youth employment rate down to 46.5 per cent in July, down 0.5 percentage points on-year. On the other hand, the employment rate includes the economically inactive population in its calculation.
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