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Changes in skill structure in the Korean labor market

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  • Changes in skill structure in the Korean labor market
  • Yoon, Yoon-Gyu
  • Korea Labor Institute


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Title Changes in skill structure in the Korean labor market
Similar Titles
Material Type Reports
Author(English)

Yoon, Yoon-Gyu

Publisher

Seoul:Korea Labor Institute

Date 2011-09
Pages 30
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Social Development < Employment
Holding Korea Labor Institute

Abstract

This paper examines changes in the skill structure of workers amidst rapid changes in Korea’s industrial structure and technological environment. Regression analysis is used on a wage equation that includes both skill factors (such as level of education, tenure, years of experience, and license) and non-skill factors to estimate the skill scores of individual workers from predictions due to skill factors. The estimated individual skill scores are then used in an empirical analysis on changes to the skill levels of Korean workers during the past 20 years, changes to the relative skills ranking for workers in different occupations and industries, and on changes to the skills gap and skills inequality among workers.
This empirical analysis will allow us to determine whether the skill level of Korean workers has increased or decreased over the past 20 years. The results of the analysis can be used as basic data for establishing government policies to resolve social issues such as the skills mismatch between enterprises and workers in the labor market, the widening skills gap and the ensuing increase of unemployment and income inequality.