The number of young Korean adults who have been NEET (Not currently engaged in Education, Employment, or Training) for over three years now totals 80,000, according to the Economically Active Population (15-29 years old) data Statistics Korea released Sunday.
As of May, 218,000 young adults who had left school (including those who have completed or dropped out) had not been employed for over three years. Of them, 80,000 reported that their main activity was just spending time at home. These figures are higher than before the outbreak of COVID-19.
The NEET rate among young people unemployed for three years or more is rising. Pre-COVID-19, the rate was in the low 20s, steadily increasing each year. However, it sharply rose to 34.7% in 2021 and further to 37.4% last year.
The rate was highest for those who have been out of work for more than three years (36.7%). For those unemployed for less than six months, the rate was 23.9%, while for those unemployed between six months and a year, the rate was 27.3%. For those unemployed between one and two years, the rate was 19.2%, and for those between two and three years, the rate was 21.1%.
NEETs decreased from 96,000 in 2021 to 80,000 this year, due mainly to a drop in the young adult population. This year’s figures are still higher than 2018 (54,000) and 2019 (64,000).
This article was originally published on Oct. 22, 2023.