[Edaily Reporter Kim Min-jung ] Although the government has assessed the current economic situation as showing “a strengthening trend of economic recovery,” the reality experienced by young people is quite different. As job opportunities become scarcer and the cost of living—including dining out—continues to rise, an increasing number of young people are cutting back on social outings with friends and settling for inexpensive meals.

In the August issue of “Recent Economic Trends (Green Book)” released on the 14th, the Ministry of Finance and Economy assessed that “the economic recovery trend is strengthening, as evidenced by a sharp increase in exports and improvements in domestic demand, such as consumption.”

In fact, total industrial production in June rose 2.3% from the previous month, and retail sales also increased by 2.7%. In July, exports surged 62.8% year-on-year, driven by strong performance in semiconductors, computers, and ships. However, it is difficult to say that the recovery in macroeconomic indicators is extending to the daily lives of young people.

Last month, the Consumer Price Index rose 2.8% compared to the same month last year. Although this was lower than the 3.2% increase recorded in June, prices for personal services—which are closely tied to dining out costs—actually rose 3.5%, exceeding the overall inflation rate.

This rise in prices is affecting not only young people’s eating habits but also their social lives.

According to a survey of 601 Gen Z respondents conducted by Part-Time Job Heaven in June and released in July, 93% of respondents said they had experienced financial strain regarding the costs of meeting friends or attending social gatherings due to rising prices.

The expense young people found most burdensome was “meals.” 78.4% of respondents cited meal costs, and the most common amount spent per outing with friends was “30,000 won or more but less than 50,000 won” at 39.4%.

While many young people have reduced the frequency of in-person meetings due to these rising costs, simply opting to eat at home instead of dining out does not mean they are free from the burden of food expenses.

Amid high inflation, even the prices of instant rice and processed foods—which were once considered relatively inexpensive meal options—are rising, gradually narrowing the range of ways young people can save on food costs.

The deteriorating employment situation is another factor behind young people’s heightened sensitivity to food costs.

In July, the total number of employed people increased by 108,000 compared to the same month last year. However, the trend among young people was exactly the opposite.

The number of employed young people aged 15–29 decreased by approximately 191,000 compared to a year ago. Youth employment has declined for 45 consecutive months, and the youth employment rate has also fallen for 27 consecutive months. The youth unemployment rate stood at 6.8%.

While the government assessed that the overall economic recovery is strengthening, it acknowledged that burdens on people’s livelihoods remain.

In this Green Book, the Ministry of Economy and Finance identified uncertainty surrounding the Middle East war, inflationary pressures caused by high oil prices, and difficult employment conditions for vulnerable groups as factors weighing on people’s livelihoods.

Consequently, observers point out that there remains a significant gap between the statistical indicators of economic recovery and the economic conditions young people actually experience in their daily lives.