Global Economy News and Headlines

Both the Number of New Workforce and Jobs Stagnant in Korea, Reports Indicate

South Korea faces a looming labor shortage as its economically active population is projected to grow only 0.46% by 2034, creating a gap of roughly 1.22 million workers. Despite the demand for an additional 54,000 workers per year through 2029 and 191,000 per year after 2029, recent graduates are struggling to secure full‑time positions. A survey by Alba Heaven shows that 34% of university graduates plan to take part‑time jobs, with nearly half citing living expenses as the primary reason. The mismatch highlights growing reliance on temporary work amid a demographic crunch.