<Anchor> It is a
friendly economic time. Today (19th) will be with reporter Kim Hye-min. Reporter Kim, Looking at the results of our 4/7 re-election last year, the approval rating of the ruling party has fallen a lot. There may be many reasons, but one of the causes is the economic hardship that young people feel with their skin, right?
<Reporter>
These days, it is said that the relative deprivation of young Koreans is very great. Let's take a look at how much economically suffering people under the age of 29 are suffering from the numbers.
The Korea Economic Research Institute estimated that it is the'Youth Economic Pain Index' by adding the perceived unemployment rate for young people and the inflation rate for young people.
The number, which had been declining since 2017, increased again from last year, and also increased significantly in the first quarter of this year.
Looking more closely, the'youth experienced unemployment rate', which is one of the criteria for the pain index, rose only 1 percentage point between 2015 and 2019. Increased.
In addition, the youth inflation rate has been in the 0% range since 2018, but in the first quarter of this year, it suddenly surged to 1.2%. These figures show just how hard times young people are right now.
<Anchor>
If the unemployment rate rises like this, of course, the earned income will decrease. By the way, only the young people decreased even more.
<Reporter>
The income that workers receive from being employed as workers is called earned income. I averaged this over four years.
Of all age groups, only heads of households aged 29 and under declined.
Earned income increased the most among those aged 60 and over. Their 40s and 30s followed. Even in a situation where all generations are increasing, only those under the age of 29 recorded negatives.
The sum of all the earned income, business income, and property income explained now is called'ordinary income'. If you compare generations with this, you will get a more three-dimensional result.
Households under the age of 29 have an average annual increase of 2.6% over four years in their ordinary income. It is the second lowest number after the 50s, but the reason the situation is a little better.
This is because the young people's business income and public transfer income have increased significantly.
Business income increases when you register as a private business operator like a delivery driver and earn money.
The increase in public transfer income means that young people have received a lot of government subsidies such as work incentives.
It's not a positive indicator because it's an increase in unsustainable income rather than making money as a worker.
<Anchor>
Is that because it is so difficult? The generation with the greatest debt increase is also the young people.
<Reporter>
Young people's debt-to-asset ratio is also increasing significantly, and in 2015 alone, the debt-to-equity ratio was the lowest after their 60s. But since 2017, it has risen to the highest level of all ages.
It spreads more and more with other generations, showing a huge gap of 32.5% last year. Debt is growing too fast, and asset growth is not catching up.
Let's take a look at how much'net worth' after deducting liabilities from assets has changed from 2015 to last year by age group.
All age groups, including those in their 40s, whose net worth increased by more than 100 million won, recorded a positive record, and here too, only those under the age of 29 decreased by 1.32 million won.
Considering that the impact of the spread of Corona 19 was not reflected since this survey was based on the beginning of last year, the financial soundness of young people can now be interpreted as being worse.
<Anchor> As
reporter Kim said all the time today, it's very difficult for young people. Then, if you try to solve this difficulty, you have to get a job somehow and make money and make your life little by little, but more and more young people say that they have given up on the job itself and the job search itself and just take a break.
<Reporter>
This refers to just giving up job search because it was too difficult to get a job. Among the 15 to 29 year olds, 453,000 people who gave up preparation for employment as of the first quarter of this year and said'just took a break' I did.
Especially because of the low birth rate, the population of young people is declining every year. Calculating how much of the younger population was at rest, it was 3.6% in the first quarter of 2015, but an increase of 1.5 percentage points to 5.1% in the first quarter of this year.
As such, it is clear from all the statistics that the economic suffering of young people is severe.
Recently, even President Moon Jae-in has stepped up and ordered each ministry to provide'special measures' for young people. They also asked companies to increase their employment.
It remains to be seen whether the government can come up with a policy that can reach the skin of young people this time, freeing from short-term job growth.