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Korea's Youth Jobless Rate Continues to Rise

May 15, 2017 08:32|May 15, 2017 08:32
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Amongmajor countries worldwide, Korea turned out to be the only country where youthjobless rate increased in the first quarter of this year. In contrast to theworsening of the youth jobless rate in Korea, those of the United States, Europe,and Japan marked an improvement.

Onlyfour countries, including Korea, saw their youth jobless rate worsen comparedto a quarter ago, among OECD countries. According to OECD on May 14, Korea'sjobless rate for those aged from 15 to 24 stood at 10.0 percent in the firstquarter of this year, up 0.1 percentage point from 9.9 percent in the fourth quarterof last year.

Inaddition to Korea among OECD countries, Austria (from 10.4% to 10.5%), Latvia(from 16.9% to 17.4%) and Chile (from 15% to 16.1%) saw their youth unemploymentrate rise compared to a quarter ago.

Theyouth jobless rates of other OECD countries showed improvement in the firstquarter of this year, with the average youth jobless rate of OECD countriesfalling by 0.4 percentage point from 12.7 percent to 12.3 percent.

TheEU saw its youth jobless rate fall from 18.1 percent to 17.4 percent, whileAmerica's youth jobless rate dipped from 10.2 percent to 9.7 percent.