Population Shifts Highlight Deepening Crisis
The population in their 20s has seen a significant decline, now smaller than the elderly population aged 70 and above for the first time. This marks a major shift in demographic trends, as the 20s age group, once the largest among adults, has decreased for four consecutive years. The combination of low birthrates and an aging population has led to concerns about economic vitality and a deepening population crisis.
According to data from the Population and Housing Census conducted by the Ministry of Data and Statistics, the number of people in their 20s last year was 6,302,000, a decrease of 193,000 compared to the previous year. Meanwhile, the population aged 70 and above reached 6,543,000, surpassing the 20s population by 241,000. This is the first time since 1925 that the 20s age group has fallen below those aged 70 and above.
20s Overtaken by Those Aged 70 and Above
The 20s population peaked at 7,030,000 in 2020 and has since declined by 140,000 to 210,000 each year. Last year’s decrease was the largest among all age groups, exceeding the reductions seen in those under 10 (192,000) and in their 40s (169,000). As of last year, the population by age group was led by those in their 50s at 8,713,000, followed by those in their 40s (7,809,000) and 60s (7,791,000). This contrasts sharply with 30 years ago, when the 20s age group was the largest across all age categories.
Weakening Presence in the Labor Market
The 20s age group is not only shrinking in population but also being marginalized in the job market. In August of last year, the employment rate for those in their 20s was 60.5%, a 1.2 percentage point drop from the previous year. Since August of the previous year (61.7%), it has continued to decline or remain flat for 12 consecutive months without any rebound.
The unemployment rate for those in their 20s in August reached 5%, rising by 1 percentage point to mark the highest level in three years since 2022 (5.4%). This is because large companies have increased the recruitment of experienced workers on a rolling basis instead of open hiring, reducing job opportunities for young people entering the workforce. According to a survey by the Federation of Korean Industries, 28.1% of new college graduate employees at the top 500 companies by sales last year were experienced hires. This figure rose by 2.3 percentage points from the previous year (25.8%).
The shortage of quality jobs due to the contraction of manufacturing caused by U.S. tariff policies and the slump in the construction industry is also exacerbating employment difficulties for the 20s age group. There are concerns that if young people find it harder to establish themselves in society, this could lead to delayed marriage and childbirth, further worsening the low birthrate problem.
