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The’rested’ population has been increasing for 44 months and is continuing a new record-breaking march every month. These are different from the unemployed. In fact,’employment renunciations’ who do not actively seek jobs have soared in their 20s and 40s, who act as the backbone of the economy.
It is confirmed by numbers that the number of job abandoners has steadily increased even in the 30s and 40s, which are the main employment classes, following their 20s, which change the largest scale every month.
As a result of analyzing the inactive population by Hankyung.com News Lab on the 23rd, the resting population in their 20s and 40s increased at 24 and 22 months, respectively. It is interpreted that the willingness to find a job itself has been greatly reduced as the employment cold has continued for a long time. The total rested population unfortunately began to increase in May 2017, when the government was inaugurated, and continues to increase for 44 consecutive months until last December.
Experts believe it will take considerable time to recover employment. Some point out that it is necessary to strengthen government measures, focusing on the non-face-to-face job field, where industrial demand is expanding.
2040 generations who couldn’t find a job before coronavirus “just took a break”
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Rested population by age. Rest The population has been increasing for 44 months since May 2017. /Graph = Reporter Shin Hyun-bo, Hankyung.com
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The population of 2040 households on rest is increasing for 24 months and 22 consecutive months, respectively. /Graph = Reporter Shin Hyun-bo, Hankyung.com
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As of December last year, the population in their twenties took a break, a record high of 458,000 people, up 35.1% from the same month last year. This is a level of concern given that it is the age group that should be actively devoted to job search. In the same month, when the people in their 30s and 40s who took a break are combined, the number of people who took a break in 2040 reaches 1 million.
Rest The population showed a clear increase in the younger population. In the case of their 50s, the trend has declined for three consecutive months since last October.
The reason for the increase in the population in their 20s and 40s can be found in the employment rate. Last year, the overall employment rate was 62.5%, down 0.8 percentage points from the previous year. By age group, those in their twenties (61.2%) fell 2.7 percentage points, and it was confirmed that they were the most affected by Corona 19. This is the biggest drop since 2000 when related statistics were written and marketed. Subsequently, those in their 40s (79.1%) dropped 1.3 percentage points.
Jo Jun-mo, professor of economics at Sungkyunkwan University, diagnosed, “In the first place, the contraction in labor demand has continued from the end, and employment insecurity has expanded due to COVID-19.” He said, “The main reason for the decline in employment in the 20s is that despite the development of online-related technologies and markets, we are not yet ready to create human capital for young adults.” It seems to be the result of shaking.”
Those in their 50s (76.6%) fell 1.1 percentage points, those in their 30s (78%) fell 0.7 percentage points, and those in their 60s (44%) rose 0.9 percentage points, making the employment rate the only one among all age groups to improve last year.
20~40 with nowhere to go… We need to open the way to the demand expansion industry
Experts were concerned that the’red light’ was lit on employment of the future generation, 20s and 3040s, which is the economic back. In particular, it was expected that the youth employment crisis caused by Corona 19 will not be limited to short-term effects.
In a report on the’Status of Employment and Policy Suggestions for Youth’ in May of last year, Joseph Han, a researcher at the Korea Development Institute (KDI), said, “If the unemployment status is prolonged, wage losses continue to occur due to loss of career other than short-term wages. Edo pointed out that in situations where job choices in the early stages of a career are restricted, it is highly likely to hinder career development.
He advised, “There are industries that are currently in increasing demand. We need to expand support such as recruitment incentives and education and training opportunities so that new hiring can be actively carried out around these industries.”
“The employment market crisis is not irrelevant to the contraction of the face-to-face industry and digitalization,” said Kim Jeong-sik, professor of economics at Yonsei University. “We have to come up with a variety of ways to connect with it.”
Shin Hyun-bo, Hankyung.com reporter [email protected]
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