"COVID-19-Driven Youth Employment Quality Decline Continues... Increase Only in Short-Term and Simple Labor"

National Assembly Budget Office Publishes ‘Economic and Industrial Trends & Issues’
Analysis of Changes in Youth Employment Since COVID-19

[Sejong=Asia Economy Reporter Kim Hyunjung] Although the number of employed youth, which sharply declined due to the spread of COVID-19, has recently shown signs of recovery, concerns have been raised that the quality of employment has worsened compared to the pre-pandemic period. Not only did the number of contract workers with contracts of one year or less and simple labor workers increase, but the number of young workers who are satisfied with their current jobs also significantly decreased.

On the 28th, Yoo Geunsik, Economic Analyst at the National Assembly Budget Office, stated in the October issue of ‘Economic and Industrial Trends & Issues’ through an ‘Analysis of Changes in Youth Employment Since COVID-19’ that he compared contract periods, working hours, occupations, and job satisfaction of youth employees between 2019, before the spread of COVID-19, and the third quarter of this year, making these claims.

According to Statistics Korea, the number of employed persons, which was only 3.486 million in the first quarter, increased to 3.71 million in the third quarter, and the year-on-year decline narrowed from 199,000 in the first quarter to 42,000 in the second quarter and 36,000 in the third quarter.

However, examining the jobs found by young people reveals that they were short-term contracts, involved fewer working hours, and focused on simple tasks. According to Yoo’s comparison, jobs with contract periods of one year or less turned to an increase in the second quarter of 2021 compared to the second quarter of 2019, and in the third quarter, there were 10,000 more than two years ago. Conversely, jobs with contract periods exceeding one year have seen a reduced decline, but as of the third quarter, there were 46,000 fewer than in 2019.

Based on weekly working hours, the number of short-term workers working less than 36 hours per week increased by 103,000 in the third quarter compared to 2019, with 37,000 working less than 15 hours, classified as ultra-short-term workers. On the other hand, the number of youth employed working 36 hours or more per week has continued to decline compared to 2019, decreasing by 139,000 in the third quarter of this year.

By occupation, an increase in simple labor jobs stands out. While managerial and professional positions increased by 33,000 in the third quarter compared to 2019, simple labor jobs surged by 67,000, showing a significant increase compared to other occupations.

Job satisfaction surveys also confirm youth dissatisfaction. As of the third quarter, the number of young workers wanting to change jobs or find additional jobs surged by 47.3% (51,000) compared to 107,000 in the third quarter of 2019. The number of employed persons who responded that they were satisfied with their current jobs and wanted to ‘continue working as is’ was 86,000 fewer than in 2019.

Regarding this, Analyst Yoo Geunsik pointed out, "Although the employment situation is improving quantitatively, qualitative improvements may proceed slowly," and emphasized, "It is necessary to evaluate the current employment situation by examining both quantitative and qualitative indicators."

This content was produced with the assistance of AI translation services.