Decrease in new employment among people in their teens and twenties exceeds population decline rate in South Korea

It has been revealed that the number of teenagers and people in their twenties newly hired as wage laborers in South Korea in the second quarter of this year hit its lowest level since statistics were compiled. This is on a scale that exceeds the decline in the youth population.
This means that the number of new hires has decreased. According to the Statistics Korea National Statistics Portal (KOSIS) on the 24th, the number of people under 20 (teens and twenties) employed in wage labor in the second quarter of this year was 10.1%.
The number of new hires was 1.454 million, down about 136,000 (-8.6%) from the same period last year (1.59 million). This is the lowest since the relevant statistics were compiled in 2018.
This sharp decline in new employment has led to a decline in overall wage employment.
The number of people in their 20s or younger who were employed in wage labor was 3,059,000, down from 3,192,000 a year ago.
This is also the lowest figure since the relevant statistics were compiled. Employment refers to the "employment position" that a worker occupies, and is a different concept from employed persons. For example, if you go to work during the week and work at a cafe on the weekends,
If a person works part-time in a company, they are counted as one employed person and two employments. New employment here refers to the fact that a person changed jobs or left the company during the quarter, or that a new employment was created.
The number of new jobs in the wholesale and retail industries, which are closely related to domestic demand, fell from 221,000 to 206,000, the lowest on record.
The food industry saw a decline from 227,000 to 217,000, reversing the downward trend. The same was true for the manufacturing and construction industries. The number of new hires of people in their 20s or younger in the manufacturing industry, which is considered to be "high-quality employment," has also declined.
The number of construction jobs in the construction industry fell from 278,000 in the second quarter of last year to 256,000 in the same period of this year. The number of construction jobs in the construction industry also fell from 99,000 to 89,000 in the same period.
The downward trend in new hiring is also seen among those in their 30s. Among those in their 30s who were employed as wage laborers in the second quarter of this year, the number of new hires was 1.07 million, down from 1.135 million in the same period last year.
The decline in new employment among young people is steep compared to the change in population. The population of people aged 15 to 29 in the second quarter of this year was 8.174 million, down from the same period last year.
The economically active population decreased by 129,000 people (-3.1%), while the employed population decreased by 137,000 people (-3.5%).
The decline in new wage employment among people in their 20s and younger was more than double that figure, at -8.6%.