• KDI Journal of Economic Policy
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• v.43 no.2
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• pp.23-51
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• 2021

The persistence of the employment shock by COVID-19 has various policy implications during the pandemic and beyond it. After evaluating the impact of the health crisis at the individual level, this study decomposes employment losses into persistent and transitory components using the observed timing of the three major outbreaks and subsequent lulls. The estimation results show that while face-to-face services were undoubtedly hit hard by the COVID-19 crisis, the sectoral shock was less persistent for temporary jobs and self-employment. Permanent jobs in the hard-hit sector showed increasingly large persistent losses through the recurring crises, indicating gradual changes in employer responses. The persistent job losses were concentrated on young and older workers in career transitions, whose losses are likely to have long-term effects. These results suggest that targeted measures to mitigate the persistent effects of the employment shock should take priority during the recovery process.

• Asian Journal of Innovation and Policy
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• v.12 no.3
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• pp.323-344
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• 2023

This study investigates the resilient structural characteristics of a region by assessing the impact of the financial crisis. Utilizing panel data at the prefecture level for metropolitan cities across pre-shock (2006-2008), shock (2009), and post-shock (2010-2019) periods, we calculated an employment resilience index by combining the resistance and recovery indices. The panel logit regression measures the influences of the region's industrial structure and external economic factors in response to the global financial crisis. The results revealed that the diversity index of industries contributed to the post-shock recovery bounce-back. Additionally, the presence of large firms and industrial clusters within the region positively contributed to economic resilience. The specialization and the proportion of manufacturing industries showed negative effects, suggesting that regions overly reliant on manufacturing-centered specialization might be vulnerable to external shocks. Furthermore, excessive capital outflows for market expansion were found to have a detrimental impact on regional economic recovery.

• Journal of Labour Economics
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• v.41 no.4
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• pp.31-62
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• 2018

Using matching and difference-in-differences estimation method, this study estimates causal effects of health shocks on employment and income of full-time workers aged 40-55. Acute hospital admissions lower significantly the employment probability and earnings. The changes in employment and earnings persist up to three years after the health shock. The economic impacts of health shocks vary by socioeconomic status and job characteristics among individuals. Irregular workers are more likely to leave their jobs after health shocks than regular workers. Among irregular workers, the probability of leaving labor market after health shock decreases with the size of the firm.

• The Journal of Small Business Innovation
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• v.20 no.1
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• pp.19-33
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• 2017

In this paper, we suggest proper policy directions through an analysis onthe impact of changes in self-employment on the national economy. In other words, we intend to identify the current status of self-employment jobs and present policy directions for supporting self-employed workers. In order to grasp the dynamic relationship of variables, we used a VAR model to measure the impact of self-employment job fluctuations and macroeconomic variables on each other. The analysis results demonstrate that an exogenous shock to the ratio of self-employed workers does not show a significant impact on the nominal growth ratio. However, when the analysis was done separately on an exogenous shock to the ratio of self-employed workers with employees and without employees, an increase in the ratio of self-employed workers with employees showed a positive impact on nominal growth. On the other hand, an increase in the ratio of self-employed workers without employees showeda negative impact on nominal growth. In future studies, it will be necessary to do additional analysis on quarterly data to estimate the short-term impact of macroeconomic variables on changes in the ratio of self-employed workers.

• Journal of the Economic Geographical Society of Korea
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• v.22 no.3
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• pp.274-290
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• 2019

This article links the change in regional manufacturing employment in Korea after the financial crisis to the geography of technological and trade shocks. We conceptualize the trade shock as the rapid growth in Korean imports from and exports to China and ASEAN countries. We then measure the exposure to technological shocks as the degree to which regions are specialized in routine tasks, which are susceptible to automation technologies. Results show that local labor markets specialized in routine tasks experience significant falls in manufacturing employment. Regions whose industrial structure exposes them to rising import competition experience sharp drop in manufacturing employment. We also found that export plays a major role in explaining the growth of regional manufacturing employment.

• Journal of the Economic Geographical Society of Korea
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• v.25 no.3
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• pp.281-298
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• 2022

The COVID-19 pandemic has so far given the world a great shock and fear that cannot be compared to other infectious diseases, and local economies are experiencing a serious economic crisis accordingly. This paper examines the regional characteristics of economic recession and resilience due to the COVID-19 pandemic, focusing on the employment fluctuations in 85 cities nationwide. Although the overall trend is in line with national employment indicators, there are some differences in the shock response and the recovery of employment in individual cities. The difference between cities is somewhat greater in the resilience of the recovery stage than the resistance, which is the shock-response stage. In terms of resilience, cities in the capital area have relatively good condition compared to cities in the non-capital area. The weak resilience of large cities such as Seoul, which has a high population density, can be explained to be the effect of the COVID-19 pandemic of infectious diseases. Regarding the economic structure of the city, the ratio of service and sales workers, wholesalers and retailers, and food and lodging businesses are analyzed as valid explanatory variables for the resilience of cities.

• Asia-Pacific Journal of Business
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• v.14 no.2
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• pp.85-100
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• 2023

Purpose - The purpose of this study is to identify the factors of shocking events in the career aspect experienced by Korean workers in the context of the Covid-19 pandemic, and to find out whether these career shocks affect individual perceptions of the importance of subjective career success. Design/methodology/approach - In the survey of 146 respondents, the career shock events experienced in the context of the Covid-19 pandemic were largely divided into three categories; 'work change', 'employment anxiety', and 'life anxiety'. For the subjective career success, seven dimensions - 'financial security', 'financial achievement', 'entrepreneurship', 'positive relationship', 'positive impact', 'learning and development', 'work-life balance' - were used. Findings - As a result, there was no difference in the perception of subjective career success due to the experience of 'work change' during the Covid-19 period. However, the respondents who experienced 'employment anxiety' came to recognize that 'financial security' and 'financial achievement' were more increasing in terms of the degree of difference of importance. And respondents who experienced 'lifetime anxiety' perceived that the degree of difference of importance was increasing in the six dimensions except for 'social influence'. Particularly, the increase in the importance of 'work-life balance' and 'positive relationship' was found to be the greatest among the career success dimensions. Research implications or Originality - Finally, it was concluded that changes in the external environment such as Covid-19 pandemic influence as a career shock and affect the level of importance in subjective career success perception. Based on the results, the theoretical implication on current career study and some practical implications for organizational career management were suggested.

• The Journal of Korean Academic Society of Nursing Education
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• v.28 no.2
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• pp.156-166
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• 2022

Purpose: The purpose of this study was to identify factors that can affect transition shock in newly-graduated nurses. Methods: The first descriptive written survey was conducted on 450 graduate students from five nursing colleges. After their employment, the second survey was conducted on 316 participants who had responded to the first survey. A total of 158 respondents were used for the final analysis. Data were analyzed using an independent t-test, ANOVA, Tukey test, Pearson's correlation coefficient, and hierarchical multiple regression analysis with the SPSS Win 25.0 Program. Results: The average age of the participants was 24.25±4.47. Of the participants, 126 (79.8%) were satisfied that they had majored in nursing. The average score for transition shock was 2.61±0.55 points. Factors influencing the transition shock of newly-graduated nurses were the working department, working period, and working environment. The more positively the newly-graduated nurses perceived the nursing work environment, the less of a transition shock they experienced. Grade point average, clinical competence, confidence in performing core nursing skills, and nursing professionalism did not affect their transition shock. It could be confirmed that there is a gap between college nursing education and the clinical field. Conclusion: In order to reduce the transition shock of newly-graduated nurses, it is necessary to improve the nursing work environment and apply educational and emotional support strategies according to the characteristics of each work department and the period of work.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.69
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• pp.721-740
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• 2016

Recently Korea has stepped into a stage of sluggish development, and the unemployment of young people has become a major issue. Especially in 1998 IMF economic shock was influential in formulating government policy and social economic structure on employment. Restructuring now becomes everyday words and further restructuring is already under way. Owing to the growing economic crisis and resultant unemployment and initial appointment shall be considered conditional. Young job seekers are grappling with mastering their native language and unnecessary experiences. These unnecessary experiences are needless waste of time and money. Educational system in university may be affected by environmental changes in population of students and business crisis. Sometimes the departments made a very low rate of employment may be abolished or merged in university. The government will demand us in the work of reform by doing NCS. The government is now ask to teach, train and employ students on the basis of NCS especially in high-school, job training center, and college and university. NCS has advantages and disadvantages. NCS may reduce waste of time and money to make unnecessary experiences, provide standard course to prepare educational system. It will be a big help to adapt properly and make better employment system. The most negative element of the program is application to humanities and social sciences by the same standard with technology and engineering department in the university. Standardization of each educational course will not react quickly to rapidly changing situations in the future.

• KDI Journal of Economic Policy
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• v.43 no.1
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• pp.29-52
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• 2021

The purpose of this paper is to measure the impact of the recent Korea-Japan trade dispute on the Korean economy using supply-driven input-output analysis. In July 2019, Japan announced the decision to tighten the export control of three materials which are indispensable in the manufacturing of semiconductors and electronic display panels. Japan's decision directly affects production in Korea's semiconductor and display sectors and is hence not a demand shock. For this reason, a standard demand-driven input-output analysis is not valid despite the fact that it can still be applied. The impact of Japan's decision on Korea's aggregate and individual sectors' gross output, GDP and employment were computed using both methods.