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Job creation in Korean way : Challenges and opportunities

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Frame of Image t labor market situation
 Employment rate is an important factor, which explains overall economic performance of countries.  Higher income countries tend to have higher employment rate.
 Linear relation of both variables is quite strong.  Korea stays at OECD average both in income and employment rate.
 Higher employment rate is, lower unemployment rate.
 However, Korea is a outlier in this relation. Why? GDP per capita and employment rate
Employment rate, %)
Employment rate and unemployment rate
Employment rate, %)
1,000 US dollar (PPP) Source: OECD Stat. Source: Oxford Economics.
Unemployment rate
3
1. Current labor market situation
 Korea’s employment rate (ER) has not progressed well and strong gender and age gaps in ER exist.  ER in Korea has been stagnated between 60 and 64% for last 10 years, still lower than OECD average.
 ER for men approaching OECD average or even higher.  However, ER for women is quite low. The difference is more than 20%p.
 ER for prime age is high, while ER for youth is very low and increasingly lower.
Employment rate, Korea Employment rate by age, Korea
Source: Statistics Korea
Source: Statistics Korea
4
 Korea’s overall employment rate is almost OECD almost OECD average.  Higher than S. Europe and lower than N Europe than N. Europe  ER for men is even higher than OECD average and same level with Denmark and Sweden.  However, ER for women is lower than OECD average and difference with N. difference with N Europe is quite clear.  I


Full Text
Title Job creation in Korean way
Similar Titles
Sub Title

Challenges and opportunities

Material Type Proceedings
Author(English)

Kang, Yoo-Duk

Publisher

Korea Institute for International Economic Policy

Date 2014
Pages 20
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Government and Law < Public Administration
Holding Korea Institute for International Economic Policy