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Employment in Korea : Can we solve it

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Frame of Image creased by 396,000 from the previous year, demonstrating the better-than-expected employment situation.
Table 1. Trends in Major Employment Indicators
(%, Thousands) 2005 GDP Economically Active Population Labor Participation Rate Employed (Growth Rate) (Growth) Unemployment Rate Employment Rate 4.0 2006 5.2 23,978 61.9 23,151 1.3 295 3.5 59.7 2007 5.1 24,216 61.8 23,433 1.2 282 3.2 59.8 2008 2.3 24,347 61.5 23,577 0.6 144 3.2 59.5 2009 0.2 24,394 60.8 23,506 -0.3 -71 3.6 58.6 2010 6.1 24,748 61.0 23,829 1.4 323 3.7 58.7 2011p 4.3 25,094 61.1 24,186 1.5 357 3.6 58.9
23,743
62.0 22,856 1.3 299 3.7 59.7
Note. Figures for 2011 are based on estimates by the Korea Labor Institute, as of August 2011. Data from Economically Active Population Survey, by Statistics Korea, each year; Bank of Korea, National Account, each year.
This paper was presented at the international conference “A Cross-Country Case Study of Employment Policies and Lessons for Korea,” organized by the Korea Labor Institute in Seoul on November 23, 2011. ∗∗ Senior Research Fellow, Korea Labor Institute. 1
∗
However, the employment issues do not appear to be entirely resolved. First, whereas 840,000 new jobs were needed between 2008 and 2010 to maintain the level of the employment rate in 2007, the actual number of jobs created during the period was just 396,000. As shown in Table 2, the cumulative GDP for the first 3 years of the current government was 9.0%, with the employment elasticity of economic growth disappo


Full Text
Title Employment in Korea
Similar Titles
Sub Title

Can we solve it

Material Type Reports
Author(English)

Keum, Jae-Ho

Publisher

[Seoul]:KLI

Date 2012-06
Series Title; No e-Labor News / 122
Pages 27
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Social Development < Employment
Holding KLI; KDI School

User Note

This paper was presented at the international conference “A Cross-Country Case Study of
Employment Policies and Lessons for Korea,” organized by the Korea Labor Institute in Seoul on November 23, 2011.