Latest news with #StatisticsKorea
Korea Herald
21 hours ago
- Business
- Korea Herald
For 1st time, more jobless college grads than middle school grads in South Korea
More South Koreans with college degrees are now out of the workforce than those who only finished middle school. It is the first time this has happened, and it reveals a growing fault line in the country's labor market. New data released by Statistics Korea on Tuesday showed that 3.048 million people aged 15 and older with a four-year university degree or higher are not working and not looking for work. That number now slightly surpasses the 3.03 million among those whose education stopped at middle school. Just 10 years ago, the gap between these groups was more than 1 million in the opposite direction. The shift reflects a wider imbalance. South Korea has one of the world's highest university enrollment rates, but the job market has not kept up. Many recent graduates are preparing for exams, stuck waiting for job openings or have left the labor market entirely. They are statistically classified as 'non-economically active,' meaning they are not employed or actively seeking a job. Behind the numbers is a tight hiring environment. According to a 2025 survey by the Korea Enterprises Federation, only 60.8 percent of large companies said they planned to hire new staff this year. That is the lowest share since 2022. College-educated job seekers tend to target high-value sectors like tech or finance. But growth in these areas has slowed. That slowdown is forcing many graduates into limbo, especially as entry-level positions shrink. South Korea's service industry offers little relief. A July report from the Bank of Korea found that labor productivity in domestic services, including IT and retail, was just 39.7 percent of the manufacturing sector in 2024. That ratio has barely moved in 20 years. Compared to other countries, the gap is just as wide. According to the BOK report, South Korea's service-sector productivity measured only 51.1 when indexed against the United States at 100. The OECD average was 59.9. Germany reached 59.2. Japan stood at 56.
The Star
a day ago
- Business
- The Star
National birth rate growth sees surprise record surge
Cute but costly: A file photo of baby clothes displayed at a baby fair in Seoul. High costs of child-rearing and housing, and a tough job market are cited as reasons for the nation's low birth rate.— AFP THE nation registered record birth rate growth in the first five months of the year, a statistics agency official said. The country has one of the world's longest life expectancies and lowest birth rates – a combination that presents a looming demographic challenge. Seoul has poured billions of dollars into efforts to encourage women to have more children and maintain population stability. 'The number of newborns for the January-May period stood at 106,048, a 6.9% increase, the highest growth rate since such data collection began in 1981,' said Kang Hyun-young from Statistics Korea. The surge follows South Korea's first annual increase in the number of births in more than a decade, driven by a rise in marriages. In 2024, the number of newborns rose by 8,300, or 3.6%, to 238,300 from the previous year. April in particular saw a spike, with year-on-year growth reaching 8.7% and the number of births totalling 20,717 that month. The latest figure marks a sharp turnaround from early 2024, when the number of births for the January-May period dropped by 2.7% from the previous year. The fertility rate, or the average number of babies a woman is expected to have in her lifetime, for May stood at 0.75. The country needs a fertility rate of 2.1 children in order to maintain the country's population of 51 million. At current rates, the population will nearly halve to 26.8 million by 2100, according to the Institute for Health Metrics and Evaluation at the University of Washington in Seattle. The increase is attributable 'to a rise in the number of women in their early 30s, leading to an overall increase in marriages,' Kang said. Analysts say that there are multiple reasons for the low birth rate, from high child-rearing costs and property prices to a notoriously competitive society that makes well-paid jobs difficult to secure. The double burden for working mothers of managing the brunt of household chores and childcare while also maintaining their careers is another key factor, they say. In a bid to reverse the trend, the South Korean government offers cash subsidies, babysitting services, and support for infertility treatment. — AFP
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First Post
a day ago
- Health
- First Post
South Korea sees rare baby boom as marriages rise and policies take root
The surge follows South Korea's first annual increase in births in more than a decade, which was fuelled by an increase in marriages. In 2024, the number of babies increased by 8,300, or 3.6%, to 238,300 from the previous year read more South Korea registered record birth rate growth during the first five months of the year. File image/ AFP South Korea's birth rate increased at a record pace in the first five months of the year, according to a statistics agency official who spoke with AFP on Wednesday. The country has one of the world's highest life expectancies and lowest birth rates, posing a significant demographic concern. Seoul has invested billions of dollars in programs to encourage women to have more children and maintain population stability. 'The number of newborns for the January–May period stood at 106,048, a 6.9 percent increase, the highest growth rate since such data collection began in 1981,' said Kang hyun-young from Statistics Korea. STORY CONTINUES BELOW THIS AD The surge follows South Korea's first annual increase in births in more than a decade, which was fuelled by an increase in marriages. In 2024, the number of babies increased by 8,300, or 3.6%, to 238,300 from the previous year. April in particular saw a jump, with year-on-year increase of 8.7 percent and a total of 20,717 births that month. The most recent result represents a dramatic contrast to early 2024, when the number of newborns fell by 2.7% from the previous year between January and May. In May, the fertility rate, or average number of kids a woman is projected to have in her lifetime, was 0.75. The country needs a fertility rate of 2.1 children in order to maintain the country's population of 51 million. At current rates, the population will nearly halve to 26.8 million by 2100, according to the Institute for Health Metrics and Evaluation at the University of Washington in Seattle. Marriage correlation The increase is attributable 'to a rise in the number of women in their early 30s, leading to an overall increase in marriages', Kang told AFP. 'In South Korea, there is a strong correlation between marriage and childbirth, which has driven the increase in births during the first five months,' she added. STORY CONTINUES BELOW THIS AD In 2024, the country saw a 14.8 percent on-year increase in the number of marriages, with more than 220,000 couples tying the knot. Many government benefits designed to support child-rearing do not cover parents who are not legally married. Analysts say there are multiple reasons for the low birth rate, from high child-rearing costs and property prices to a notoriously competitive society that makes well-paid jobs difficult to secure. The double burden for working mothers of managing the brunt of household chores and childcare while also maintaining their careers is another key factor, they say. In a bid to reverse the trend, the South Korean government offers cash subsidies, babysitting services, and support for infertility treatment. Neighbouring Japan is grappling with the same issue – it has the world's second-oldest population after Monaco, and the country's relatively strict immigration rules mean it faces growing labour shortages.
Free Malaysia Today
a day ago
- Health
- Free Malaysia Today
South Korea sees record birth rate growth for January to May
The number of South Korean newborns rose by 3.6% from the previous year in 2024. (EPA Images pic) SEOUL : South Korea registered record birth rate growth during the first five months of the year, a statistics agency official told AFP today. The country has one of the world's longest life expectancies and lowest birth rates – a combination that presents a looming demographic challenge. Seoul has poured billions of dollars into efforts to encourage women to have more children and maintain population stability. 'The number of newborns for the January to May period stood at 106,048, a 6.9% increase, the highest growth rate since such data collection began in 1981,' said Kang hyun-young from Statistics Korea. The surge follows South Korea's first annual increase in the number of births in more than a decade, driven by a rise in marriages. In 2024, the number of newborns rose by 8,300, or 3.6%, to 238,300 from the previous year. April in particular saw a spike, with year-on-year growth reaching 8.7% and the number of births totalling 20,717 that month. The latest figure marks a sharp turnaround from early 2024, when the number of births for the January to May period dropped by 2.7% from the previous year. The fertility rate, or the average number of babies a woman is expected to have in her lifetime, for May stood at 0.75. The country needs a fertility rate of 2.1 children in order to maintain the country's population of 51 million. At current rates, the population will nearly halve to 26.8 million by 2100, according to the Institute for Health Metrics and Evaluation at the University of Washington in Seattle. Marriage correlation The increase is attributable 'to a rise in the number of women in their early 30s, leading to an overall increase in marriages', Kang told AFP. 'In South Korea, there is a strong correlation between marriage and childbirth, which has driven the increase in births during the first five months,' she added. In 2024, the country saw a 14.8% on-year increase in the number of marriages, with more than 220,000 couples tying the knot. Many government benefits designed to support child-rearing do not cover parents who are not legally married. Analysts say there are multiple reasons for the low birth rate, from high child-rearing costs and property prices to a notoriously competitive society that makes well-paid jobs difficult to secure. The double burden for working mothers of managing the brunt of household chores and childcare while also maintaining their careers is another key factor, they say. In a bid to reverse the trend, the South Korean government offers cash subsidies, babysitting services, and support for infertility treatment. Neighbouring Japan is grappling with the same issue – it has the world's second-oldest population after Monaco, and the country's relatively strict immigration rules mean it faces growing labour shortages.
South China Morning Post
2 days ago
- Business
- South China Morning Post
South Korea reverses birth rate decline with its fastest growth in 40 years
South Korea registered a record birth rate growth during the first five months of the year, a statistics agency official said on Wednesday. Advertisement The country has one of the world's longest life expectancies and lowest birth rates – a combination that presents a looming demographic challenge. Seoul has poured billions of dollars into efforts to encourage women to have more children and maintain population stability. 'The number of newborns for the January-May period stood at 106,048, a 6.9 per cent increase, the highest growth rate since such data collection began in 1981,' said Kang hyun-young from Statistics Korea. The surge follows South Korea's first annual increase in the number of births in more than a decade, driven by a rise in marriages. In 2024, the number of newborns rose by 8,300, or 3.6 per cent, to 238,300 from the previous year. Advertisement April in particular saw a spike, with year-on-year growth reaching 8.7 percent and the number of births totalling 20,717 that month.
