Government Analyzes 'Employment Slump' in 40s with Full Survey-Level Detail... Plans Comprehensive Measures

[Image source=Yonhap News]

[Asia Economy Reporter Kim Hyunjung] The government is launching a quasi-census survey targeting people in their 40s who are struggling with employment. Although the number of employed persons increased by more than 300,000 last year, showing signs of employment recovery, the number of employed people in their 40s, who are considered the backbone of the economy, has decreased at the largest rate in 28 years.

According to government officials on the 19th, agencies under the Ministry of Employment and Labor are currently conducting surveys targeting applicants for unemployment benefits in their 40s. The government also plans to conduct surveys on small business owners in their 40s through related ministries.

While promoting Focus Group Interviews (FGI) through field meetings, the government plans to analyze the database confirmed through the surveys to specifically analyze the employment status and difficulties faced by people in their 40s.

As of last year, among 8.3 million people in their 40s, 153,000 were unemployed, and 1.644 million were economically inactive. Among them, male unemployment was 92,000, economically inactive males numbered 283,000, and the employment rate was 91.1%. For females, the number of unemployed was 60,000, economically inactive females numbered 1.361 million, and the employment rate was about 65.2%. The population categorized as 'resting' without any particular reason for economic inactivity was 223,000, accounting for 2.7% of the total population in their 40s, the highest since statistics began in 2003.

Meanwhile, the government announced on the 26th of last month the launch of a task force (TF) for jobs for people in their 40s and stated that it will present comprehensive measures by March this year through a census-level survey and analysis of retirees and job seekers in their 40s.

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