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Changes in the relative importance of the minimum wage, income support and employment support programs

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Changes in the relative importance of the minimum wage, income support and employment support programs04



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Title Changes in the relative importance of the minimum wage, income support and employment support programs
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Material Type Videos
Author(English)

Korea Development Institute

Publisher

[Sejong] : Korea Development Institute

Date 2016-09
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Social Development < General
Social Development < Employment
Holding Korea Development Institute
License

Abstract

Household living standards cannot be assessed through wage level without an examination into the number of employees per household and spending patterns. The minimum wage has long been a hot debate topic for economists. Although the main policy aim is to protect low-wage workers by setting a minimum level of wage, the policy's impact on employment has been a constant source of concern and new interest has been mounting over the actual beneficiaries of the support programs. This is because the traditional structure of "one household one earner" is changing, and wage and household income no longer conform as more women enter the labor market and higher education, and more part-time jobs become available.