Well, not exactly. Students having a job or looking for one are not counted as inactive (students having undeclared jobs - and not seeking one - are obviously counted as inactive):

Labour market participation by sex and age - Statistics explained

students having or seeking a job (as they are then classified as employed or unemployed instead of inactive persons, even if the job is a minor one).

"L'homme fut sûrement le voeu le plus fou des ténèbres " René Char