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Employment structure and job creation strategy in service industries

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Frame of Image nd the importance of the service sector has been increasing in recent years. The services industry constitutes the largest sector of Korea’s economy in terms of production and employment. Korea’s service industry employed about 73.3% of the total workers in 2010 and accounted for 58.1% of the economy’s total value added in 2011. Our economy is now suffering from simultaneous decreases in the potential growth rate and job growth rate, expressed as “jobless growth in manufacturing and job-rich depression in service industry”. The increases in employment are led by the knowledge-based service sectors while the overall productivity level of the service sector is low and its productivity growth has decelerated compared with other developed countries. The growth and development of the service industry may expand
the service demand market and job-creating capacities. This may require institutional improvements to facilitate the productivity transmission mechanism in the economy. T h e p u r p o s e o f t h i s a r t i c l e is to provide an overview of the characteristics of the employment structur e b y d e c o m p o s i n g t h e f a c t o r s o f t h e changes of industrial employment, based on the supply-demand balance equations of the InputOutput table. We also make policy suggestions to increase job creation and improve job stability in service industries of Korea.
2. Employment Structure in Service Industries
(1) Characteristics of Employment in Service Industries
Korea has b


Full Text
Title Employment structure and job creation strategy in service industries
Similar Titles
Material Type Reports
Author(English)

Kim, Chun Kon

Publisher

[Seoul]:Korea Institute for Industrial Economics & Trade

Date 2013-05
Journal Title; Vol./Issue KIET Industrial Economic Review: Cover Story:vol. 18(no. 3)
Pages 8
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Industry and Technology < General
Social Development < Employment
Holding KIET; KDI School