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Compiled by Terence K. Huwe and the staff of the IRLE Library

Thursday, February 07, 2013

Changing Trends In The Youth Employment Crisis: 2004-2011

 

Korea Labor Institute (KLI)

 

Changing Trends In The Youth Employment Crisis: 2004-2011 [21 January 2013]

http://www.kli.re.kr/kli_ehome/work/vew.ehome-200004?pageNo=&condition=&keyword=&rowNum=&year=&firstClass=&seq=351&listNum=218#none

 

Abstract

Korea’s youth unemployment problem has continued to worsen since 2004: according to

an analysis of raw data from Statistics Korea’s Economically Active Population Survey and

Supplementary Results of the Economically Active Population Survey on Youths to confirm whether youth

unemployment affects all youths, more youths were delaying graduation or taking leaves of

absence due to unemployment. In addition, the degree of hardship experienced was found to

differ among youths: the younger and less educated tended to suffer more, and women tended to

suffer more than men.

 

Meanwhile, an analysis of whether the youth unemployment problem had a negative

impact on the quality of youth jobs showed that, contrary to speculation, during the period

between 2004 and 2011 the quality of jobs improved or at least remained the same in almost

every respect, including wage levels, percentage of permanent or above-one-year contract

positions, and social insurance subscriptions. According to a time-series analysis of the effect of

business size on wages performed to investigate the cause of this phenomenon by applying an

estimated wage function, during the period from 2004 to 2011, the wage premium according to

business size increased among not only youths but all wage workers.

 

Such a result contradicts the government’s previous claim that youth unemployment can

be solved by creating “decent jobs.” While it is important to create “decent jobs,” what is also

important is to bridge the gap in the quality of jobs. In other words, it is necessary to improve

the quality of jobs located in the margins of the job ladder in order to solve the youth

unemployment issue, and achieving this requires improvement of the competitiveness and

working conditions at small and medium-sized enterprises and middle-standing enterprises.

 

ReBlog:  IWS, NYC


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