S. Korea Posts Modest Uptick in Economically Inactive Population
(MENAFN) South Korea witnessed a modest uptick in its economically inactive population this year, driven primarily by a sharp 73,000-person surge in citizens who have opted out of the workforce without conventional justifications, according to government data released Wednesday.
The Ministry of Data and Statistics reported that 16,220,000 individuals fell into the economically inactive category in August, representing a year-over-year increase of 9,000 people.
This classification encompasses residents aged 15 and above who exist outside both employment and unemployment statistics for diverse circumstances including domestic responsibilities, educational pursuits, and health conditions.
Homemakers who refrained from active job hunting while managing household duties grew by 13,000 to reach 5,977,000 during the August reporting period. Students engaged in academic programs or various courses without employment climbed 21,000 to 3,271,000.
Conversely, senior citizens and retirees abstaining from job searches contracted by 50,000, settling at 2,480,000 in the same timeframe.
The "take-a-rest" demographic—individuals neither seeking work nor citing conventional explanations such as disability, childcare obligations, or educational enrollment—jumped to 2,641,000 during the measured period, marking the most substantial increase among all categories.
This segment raises socio-economic concerns as it encompasses young adults who have abandoned job-hunting endeavors due to qualification mismatches, insufficient suitable opportunities, or exhaustion from relentless competitive pressures, presenting potential long-term workforce challenges for South Korea's economy.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
