The job market for young people looks increasingly grim amid promises from President Moon Jae-in to make job creation his priority.
A survey by the Korea Employers Federation suggests there will be just one job for every 35.7 people who graduate from university this year. That means only 28 of every 1,000 applicants will land a job.
The KEF polled 312 companies nationwide and released the responses on Sunday.
In the same survey two years ago, one job was available for every 32.3 applicants.
Landing coveted jobs in big corporations is even harder, with one job for every 38.5 applicants for companies with over 300 staff. That is six times more difficult than in smaller firms, where the ration is a less daunting 1:5.8. Two years ago, there was a job for every 35.7 applicants in big companies and one in 6.6 for smaller firms.
“Companies now tend to hire only a small number of people they actually need for vacant positions”, a KEF spokesman said. “There’s a backlog of jobseekers after years of a bad job market, and applicants still concentrate all their efforts on big corporations”.
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