[Point of view]The problem of youth unemployment

The problem of youth unemployment

-In Korea, 50.7% of unemployed are young people. Over 400,000 young people are still seeking a job opening.




There are many young people who have various aptitudes. These days, most young people are bilingual and have a broad knowledge, degrees and a lot of certifications. Nevertheless it’s very hard to get a job. your 20s is the first time to get a job. This first occupation can decide the way of your life.



At least 10 years ago, young people who got a bachelor’s degree were eligible to be employed. Companies have recruited promising graduates on a yearly basis. At first, companies employed them on a probationary basis, and after 3~5 months they are qualified for a specific position. Through these first experiences of employment, young people have grown up as a professional.


But these days, there are no job openings. Although there are many people who meet all the requirements, companies don’t want to employ more people because of the economic situation. According to our economic depression, people diminish their consumption. This makes firms raise their product’s prices and reluctant to recruit. This situation causes a decline of consumption. As a result, the world is caught in a vicious circle. To overcome the vicious circle, companies should employ more young people.





Fortunately, several companies are trying to recruit graduates by reducing their existing employees' salaries or pension. We call it “distributing employment.” Most employees are willing to have their salaries reduced. We can get through our problems when we make a mutual concessions. We should keep the hope of our prospective employees.