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Korea's Jobless Rate for Young People Hits the Worst among OECD Countries

June 19, 2017 05:15|June 19, 2017 05:16
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Korea's jobless rate for young people worsened the most among OECD countries in the first four months of this year. Among such countries, only five nations, including Korea, saw their youth unemployment rate worsen compared to the figure marked at the end of last year.


According to OECD on June 18, Korea's jobless rate for those aged from 15 to 24 stood at 11.2 percent as of April 2017, up 2.5 percentage points from 8.7 percent in December 2016.


The remaining four countries are Austria (from 10.2% to 10.5%), Israel (from 6.8% to 7.1%), Germany (from 6.6% to 6.8%) and Japan (from 4.8% to 5.0%).


The growth of Korea's youth unemployment rate was the highest among the five countries, about eight times higher than that of the runner-up country.


Other OECD countries showed improvement in their youth unemployment rates during the same period. The average youth unemployment rate of the OECD countries stood at 12.1 percent, down 0.5 percentage point from 12.6 percent in late 2016.