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Employment Rate of S. Korean University Grads Ranks Low in OECD

Written: 2021-11-18 09:55:42Updated: 2021-11-18 10:27:21

Employment Rate of S. Korean University Grads Ranks Low in OECD

Photo : YONHAP News

The employment rate for South Korean university graduates ranks low among advanced nations.

According to the Korea Economic Research Institute(KERI) on Thursday, the employment rate of people aged 25 to 34 with university diplomas came to 75-point-two percent.

South Korea ranked 31st among the 37 economies in the Organization for Economic Cooperation and Development(OECD), with its rate lower than Britain, Germany and Japan. 

KERI also noted that the nation's rate of economically inactive population among university graduates reached 20-point-three percent, the third highest figure among the OECD nations. 

As for reasons why the employment rate is so low, KERI cited the mismatch between majors and available jobs and the inflexible structure of the labor market.

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