Adolescent Unemployment Rate Back to Eight Percent

Due to the sluggish economy, the adolescent unemployment rate (for ages 15-29) has jumped back to eight percent in the past eight months.

Also, the number of unemployed females increased by more than 32,000, recording a 3.2 percent unemployment rate for female workers, the highest figure in the last eight months.

According to the “November Employment Report” by the National Statistical Office (NSO), last month’s overall unemployment rate rose by 0.1 percent to 3.4 percent. The total number of unemployed workers also rose by 27,000 (3.5 percent) to 792,000 compared to last October.

Adolescent unemployment rate reached eight percent for the first time this year since March (8.1 percent), and more than twice the national overall unemployment rate.

The NSO reported that although the number of those seeking jobs grew significantly due to the influx of students ready to graduate next February, not many companies are offering job openings because of the economic depression.

Employment for female workers seems to be harder still, as the female unemployment rate reached its highest this year since March (3.3 percent) with a 3.2 percent figure. The female unemployment rate rose 1.0 percent compared to last September’s 2.2 percent. Compared to male unemployment rate, which rose 0.3 percent during the same period, employment conditions for female workers seem to be relatively more difficult.

This seems to be due to the faltering domestic-oriented industries where most of the employees are female.

Jin-Hup Song jinhup@donga.com