Research Series

Chapter 1. Introduction: Background and Purpose (Yoo-bin Kim)

Chapter 2. Current Status of Youth Employment and Labor (Yoo-bin Kim)

Chapter 3. Analysis of the 2018 Survey on Life of Young People (Yoo-bin Kim, Young-min Lee)

Chapter 4. Summary and Conclusion (Yoo-bin Kim, Young-min Lee)

With youth unemployment continuing to be a challenge in Korea, income instability stemming from job problems is leading to deterioration of living standards and overall quality of life of young people. Many are struggling with the intensifying gap within the labor market and the delayed entry into workforce due to labor market mismatches, and opting for frequent changing or quitting of jobs in the early stage of career. It is almost impossible to see any positive aspect in the job situation of young people these days. The problem is that the worsening job situation of young people is negatively affecting their happiness and satisfaction. Youths are faced with a contraction in saving and consumption activities, a reduction in leisure and cultural life due to long working hours, deteriorating housing conditions, as well as worsening indicators related to marriage and childbirth. Such deterioration of the quality of life of young people is not simply a matter affecting individuals, but expected to incur significant socio-economic costs. Thus, the purpose of this study is to identify young people’s economic and labor market activities, as well as their daily life and the dynamic changes occurring in it so that useful policy implications can be drawn to improve the quality of life of young people.

Chapter 2 aims to examine the employment and labor status of young people and the changing trends in living indicators by analyzing statistical data. Please refer Chapter 4 for its main results.

Chapter 3 overviews the life of young people by analyzing 2018 Survey on Life of Young People. We take a look at their employment conditions, housing conditions, cultural and leisure activities, job preparation activities, and satisfaction with life.

Chapter 4 wraps up the conclusion of this study.

Youth’s job problems have definitely had a negative impact on the overall lives of young people. Income instability stemming from deteriorating job conditions is causing further instability in various aspects of life, including housing, marriage, childbirth, child care and self-development. A multi-faceted policy approach—covering different youth types and different life cycles—is needed to effectively improve the quality of life of young people.

Overall, it is observed that young people’s quality of life as well as their emotional and psychological states are not as good as other age groups. It is also important to recognize that the existing policies and projects are insufficient to increase their satisfaction level. Thus, it is urgent to come up with the integrated one-stop services to care for emotional and psychological states of young people, covering the stages of diagnosis, research, analysis and prescription. The government needs to pay more attention to the quality of life of young people so that they can live satisfying and happy lives while maintaining a healthy level of self-esteem.