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Youth Unemployment Rate Hits High against Nat'l Average

Written: 2017-05-03 14:20:57Updated: 2017-05-03 14:34:59

Youth Unemployment Rate Hits High against Nat'l Average

The jobless rate among the nation's youths continues to rise higher against the overall national unemployment rate.

Statistics Korea said Wednesday the unemployment rate among young people aged 15 to 29 was nine-point-eight percent last year, compared to the national average of three-point-seven percent.

This six-point-one percentage point gap is the largest recorded since 2000, when related data began to be compiled under new standards.

Noting that the economic participation rate and the employment rate are rising, a Statistics Korea official explained that the latest figures are not necessarily negative as they prove more people are actively seeking jobs.

The official, however, acknowledged that job conditions for young people were not particularly good, pointing out that a large number of people in their 50s and 60s landed jobs while big companies scaled back on hiring new recruits last year.

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