The Bank of Korea(BOK) says the number of young people who are unemployed and yet refuse to look for jobs has increased due to the economic recession and “job mismatch,” or the discrepancy between job seekers’ hopes and the type of work available. 

According to data released by the central bank on Monday, of people who were economically inactive for no specific reason, the proportion of young adults aged 15 to 29 increased from 22-point-seven percent of the total in the fourth quarter of last year to 29-point-five percent in the third quarter of this year. 

Their total numbers increased from 336-thousand people to 422-thousand people. 

In particular, this year saw more young adults with experience on the job market do nothing to earn more money or search for a new job. 

The central bank said it has become difficult for young adults, a high percentage of whom are college graduates, to find jobs that meet their expectations, while the quality of employment for young people has not recovered to pre-pandemic levels.

The BOK also said the number of young adults in that situation has surged now that small businesses are suffering hardship due to the economic downturn.

The central bank stressed the need for appropriate policy support to assist these young adults in reentering the labor market.