South Korea's Long-Term Youth Unemployment Hits 21-Year High at 19.4% on July 23

According to data from South Korea's National Statistics Office released on July 23, youth unemployment exceeding three years reached 19.4% of all jobless young people as of May 2026, marking the highest level since the statistics began in 2007. Among unemployed youth aged 15-29, 48.6% had been jobless for over a year, the highest rate since the 2008-2009 global financial crisis.

The number of employed youth aged 15-29 declined by 202,000 year-over-year to 2.76 million, while unemployment increased by 31,000 to 1.243 million. Officials attributed the deterioration to employers preferring experienced candidates and a rise in temporary hiring positions.