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The causes of the recent stagnant employment rate growth and youth Job promotion strategy

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Frame of Image my recovered after the Asian Currency Crisis, but continues to remain below the 60% after reaching 60.0% in 2002. - One likely factor behind this is the drop in the youth employment rate - As shown in Figure 1, youth employment rate remained stagnant for a while since 2002, then began to plummet in 2006, reaching 40.4% in 2012. - Accordingly, the youth employment/overall employment ratio (right side coordinates in Figure 1) shows a dramatic decline since 2006, recording only 0.68 in 2012.
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○ When excluding both youths and non-youths to measure the influence of the youth employment rate on the overall employment rate, - The employment rate for ages 30 and above and excluding the 15-29 age bracket recorded 65.0% in 2012. (59.4% for the entire population ages 15 and above, including youths) - When limiting the age to 64 years as typically done in international comparisons, the ages 30-64 employment rate not only jumps to 72.9% in in 2012, it displays continuous growth, with the exception of during the 2009 recession. - This contrasts with sharp decline in the youth employment rate since 2006 - In conclusion, the stagnation of the overall employment rate is likely to be linked to the drop in youth employment, and the influence of the youth employment rate on the overall employment rate is also likely to be significantly strong.
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<Figure 1> Overall employment rate, youth employment rate, and employment rate ratio
65.0 0.780
60.0
0.760
55.0
overall youth(15-29) youth / overall
0.


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Title The causes of the recent stagnant employment rate growth and youth Job promotion strategy
Similar Titles
Material Type Proceedings
Author(English)

Nam, Jaeryang

Author(Korean)

남재량

Publisher

[Seoul]:Korea Labor Institute

Date 2013-07
Event

KDI-KLI-OECD Joint Conference

Pages 34
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Social Development < Employment
Holding KDI; KDI School

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