There is a trend in South Korea towards delaying marriage, contributing to a declining birthrate. This is partly related to increased unemployment rates between the ages of 25 and 29. High levels of education have created a very competitive labor market context. The number of young people holding a bachelor's degree or higher rose from 30% in 2003 to over 41% in 2016. South Korean government statistics showed that, in mid-2014, for the 15–29 age group the highest level of unemployment reached was 9.5%, for an employment rate not exceeding 41%. This expansion of higher education was not anticipated by the job market, as the South Korean youth employment rate had remained at around 60% over the preceding 30 year period. Finding employment in youth is considered a prerequisite to marrying, to ensure financial security.
