Vice Minister Ki Jae: "Closely Monitoring Resting Youth... Will Prepare Tailored Policies"

Ministry of Economy and Finance and Ministry of Employment Joint Job Task Force (TF) 8th Meeting
Discussion on Youth Employment Issues and Policy Directions

Bang Gi-seon, the 1st Vice Minister of Strategy and Finance, stated, "We are closely monitoring the increasing trend of young people classified as 'resting' this year," and added, "We will identify and implement related policy tasks."

Bang Gi-seon made these remarks on the 10th during the 8th Job Task Force (TF) meeting.

He said, "Employment among people in their late 20s, the core employment age group, remains steady, but the number of employed individuals in their early 20s is decreasing," and added, "Since employment recovered from 2021 to 2022, the number of young people classified as 'resting' has been increasing this year, so we are monitoring this closely."

He emphasized, "In response to industrial structural changes, we will actively nurture talent in promising and new industries, conduct a thorough analysis of the status of young people classified as 'resting,' and identify policy tasks." He continued, "The government will implement segmented and customized policies considering the employment conditions and demands faced by young people," and added, "To enhance the employment capabilities of high school graduates and university students, we will also strengthen opportunities for work experience and tailored employment services."

According to Statistics Korea, the economic activity participation rate of people in their early 20s has been declining for six consecutive months compared to the same month last year. This is because the economically active population engaged in job-seeking activities is decreasing, while the economically inactive population classified as 'resting' is increasing. The economically inactive population in their early 20s, which had been declining continuously for 26 months since March 2021, shifted to an increasing trend starting in May. This means fewer young people are actively seeking jobs.

Accordingly, the government plans to discuss support measures to attract young people by checking the job situation, focusing on regions where labor shortages persist. Vice Minister Bang said, "Relevant ministries and local governments will directly participate to identify vacant job issues and discuss support measures tailored to regional demand."

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