2024 Upward income mobility rate stands at 16.9%… down 0.5 percentage points from the previous year
Upward mobility rate for youths aged 15-39 hits 22.4%, dropping 0.6 percentage points in a year
Mobility for those 65 and older actually rises to 10.0%… stark generational gap
62.3% of youths in the bottom 20% income bracket remain in the same bracket a year later
The social mobility ladder for young people is becoming increasingly out of reach. According to the '2024 Income Mobility Statistics' released by the National Data Agency on October 29, the overall upward income bracket mobility rate for 2024 was 16.9%, while the downward mobility rate was 16.1%. The total mobility rate, combining both upward and downward shifts, was 33.0%, down 1.2 percentage points from a year prior.
The stagnation among the younger generation is even more pronounced. The upward mobility rate for youths aged 15 to 39 fell by 0.6 percentage points from 23.0% in 2023 to 22.4% in 2024, whereas the rate for those aged 65 and older inched up from 9.9% to 10.0%. Among youths who belonged to the bottom 20% income bracket the previous year, 62.3% remained stuck in the same bracket a year later.
Choi Paul, head of the Policy Statistics Research Division at the National Data Research Institute, analyzed that the growth trend of young people entering stable jobs has weakened. However, it should be noted that this statistic is based on individual earned and business income; when household income, assets, and transfer income are factored in, some individuals in the lower brackets may not necessarily be classified as living in poverty.
The numbers reveal a clear trend. The longer young people remain trapped in lower income brackets, the more delayed their life plans—such as marriage, housing, and childbirth—become. This statistic eloquently highlights the challenge that repeated 'youth support' measures without quality jobs cannot rebuild the ladder.