The employment rate of those in their 20s posted a decline for the first time in 29 months in July.

According to Statistics Korea’s Korean Statistical Information Service on Thursday, the employment rate of that demographic group stood at 61-point-four percent last month, down zero-point-one percentage point from the same period last year.

The rate dropped for the first time since February 2021 when it slipped by one-point-seven percentage points.

Jobs for that age group had posted growth of three to four percentage points every month since the end of 2021 after continuously declining due to the COVID-19 pandemic, but such growth shrank to less than one percentage point this year before contracting last month.

The statistics agency said the drop in July was driven by the decrease in employment among those aged between 20 and 24.

The employment rate in that age bracket stood at 46-point-nine percent last month, down one-point-six percentage points on-year, marking a decline for the fourth consecutive month.