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Young Workers' Income Falls First Time

Written: 2016-03-08 09:10:51Updated: 2016-03-08 14:30:28

Young Workers' Income Falls First Time

Statistics have shown that households headed by those in their 20s or 30s saw their incomes fall last year, marking the first negative income growth in the age bracket since 2003.

Statistics Korea said Tuesday that the average monthly income for a two-person household headed by those under the age of 40 was four-point-three million won, or about three-thousand-600 U.S. dollars, last year.

The figure is zero-point-six percent lower than a year earlier. This is the first time that income growth for young families fell since the government began surveying household income in 2003. 

Statistics Korea officials said rising youth unemployment and the abundance of temporary jobs were likely causes for the fall.

Households headed by those in their 40s saw their incomes rise two-point-eight percent. Families led by those in their 50s and 60s saw their incomes go up by two and six-point-eight percent, respectively.

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