Nearly 7 out of 10 four-year college graduates have practically given up searching for jobs, showed a survey result published Sunday by the Federation of Korean Industries.
According to the survey of 2,469 job-seeking graduates and undergraduates by the lobby group, 65.8 percent of respondents had just about stopped job searching, with 31.8 percent only habitually looking for employment, 26.7 percent rarely partaking in job searching and 7.3 percent taking a break.
Meanwhile, 66.3 percent of respondents said they expected their job search process to last for at least half a year. Those expecting job searching to take over a year also amounted to 36.4 percent.
Only 16 percent of respondents said they were actively hunting for jobs.
Among those who do not actively search for employment, 38.8 percent cited the lack of job vacancies as the reason why they were inactive, while 49.5 percent, or almost half, said they were taking the time to better ready themselves.
Of those who said there was a lack of job openings, 14.5 percent said they felt they would not be able to find a job even if they tried, while another 14.5 percent said there weren’t many openings that satisfied their interest or college major. Another 9.8 percent said there was a lack of job openings that satisfied their desired working conditions.
The survey also found that 28.8 percent of respondents thought the lack of entry-level job openings was the most adverse part of the job search process. Similarly, another 19.9 percent pointed out there was a lack of internships and opportunities for hands-on work experience.
“Those searching for entry-level jobs are experiencing extended job hunting periods as companies tend to prefer to hire experienced workers who can adapt to the changing business environment,” said FKI.
Meanwhile, the most preferred job type has changed from public enterprises to large corporations over the past year, the survey also showed.