• Economic Analysis
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• v.25 no.4
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• pp.58-108
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• 2019

This paper analyzes the determining factors in the unemployment rate among young people in their 20s by studying data from 30 OECD countries between 2000 and 2017. It identifies reasons why Korea has a higher youth unemployment rate than Japan, and assesses what implications Japan's youth unemployment measures could have on Korea. The study highlights the variables that have meaningful impacts on youth unemployment. They include the unemployment rate among the working-age population, the percentage of each age bracket in the overall population, the GDP growth rate, the percentage of wage laborers in each age group, the percentage of elderly people, and the percentage of part-time workers. This paper also finds that a decline in the youth population, especially among people in their 20s, does not help to address the issue of youth unemployment. Secondly, this paper explains the additional factors behind Korea's higher youth unemployment rates. One is Korea's disadvantageous employment environment, compared to that in Japan, in terms of wage earnings. Other factors include the existence of fewer decent corporate jobs than in Japan, and wide disparities in wages between large and small corporate jobs. Therefore, while making efforts to resolve long-term and structural problems, it is necessary to actively promote policy measures to solve short-term mismatch problems of youth employment by referring to Japanese policy examples.

• Korea journal of population studies
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• v.21 no.2
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• pp.83-112
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• 1998

The unemployment rate in Korea increased sharply since the deep economic depression. The rapid increase of unemployment rate is attributed, in part, to economic shock, but more basically to the structural problem of labor market. Moreover over 2-3 years later, the labor market perspective looks dismal. To overcome the labor market crisis, the fundamental reforms aimed at improving the labor market function is required. Thus the focus of policy should shift from reducing unemployment to increasing employment.

• The Journal of the Korea Contents Association
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• v.13 no.1
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• pp.417-424
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• 2013

The purpose of this study is to find out the effect of macroeconomic variables on the hotel profitability and suggest the reasonable way to handle them. To achieve this purpose, seven macroeconomic variables were used as an independent variable. These were the index of industrial production, West Texas Intermediate, the consumer price index, the unemployment rate, the money supply, the trade balance and the exchange rate. And ROA and ROE of total hotels were used as a dependant variable respectively. As the result of regression, it was found that the index of industrial production and the exchange rate had a significant and positive effect on ROA. And West Texas Intermediate, the consumer price index and the unemployment rate had a significant and negative effect on ROA. Also the consumer price index and the unemployment rate had a significant and negative effect on ROE and the exchange rate had a significant and positive effect on ROE. Through the analysis two key variables were found to be very important ones. These were the unemployment rate and the exchange rate. So the hotel managers need to emphasize on the good price of domestic hotel products and supply the various productions and services to the guests when the exchange rate is increased. But when the unemployment rate is increased, the hotel managers should consider to supply the middle price products with the hight price products.

• Journal of the Economic Geographical Society of Korea
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• v.2 no.1_2
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• pp.83-102
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• 1999

The aim of this paper is to explore the trend and structural features of unemployment in Germany and to review the local and regional labour market policy against the unemployment. Unemployment has been one of the major issues in Germany since the oil shocks oi 1973-74 and 1978-80. The unemployment rate in western Germany was low at the time of reunification in 1990 and the next consecutive two years. Since then, the unemployment rate has sharply risen due to the restructuring of industries. In an effort to reduce the unemployment and to search (or new employment policies, the specific roles and advantages of communal units have been appreciated. The local and/or regional labour market policies are characterized as fellows: the corporative networking of all the agents including local administration, education institutes, regional labour bureau, firms and interest groups; the systematic integration of the various instruments which have been separately installed by different sectors; and the target-oriented adjustment of labour market approaches in the local circumstances.

• Journal of Korea Society of Industrial Information Systems
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• v.18 no.6
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• pp.95-101
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• 2013

Social media has many advantages. It can gain latest information with real time, be spread rapidly, easily be reproduced and distributed regardless of its form. These advantages can result in real time predictions using the latest information, which is possible due to the increase in social demand for more quick and accurate economic variable predictions. In this paper we adopted ARIMAX and ECM model to predict the unemployment rate and as a social information we used the Google Index provided by Google Trend. Also we used News Index as a domestic social information. The process of fitting statistical model considered in this paper can be adopted to predict various socio/economic indices as well as unemployment rate.

• KDI Journal of Economic Policy
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• v.40 no.3
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• pp.1-44
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• 2018

This paper studies the macroeconomic effects of an enhancement in unemployment benefits in Korea. In particular, I quantify the welfare effect of two specific policy chances which have been mainly discussed among policymakers in recent years: increasing wage replacement rates by 10%p and extending maximum benefit durations by one month. To this end, I build and calibrate an overlapping generation model which reflects the heterogeneity of the unemployed and the specificity of the unemployment insurance (UI) system in Korea. The quantitative analysis conducted here shows that extending maximum benefit durations by one month improves social welfare, whereas increasing wage replacement rates by 10%p deteriorates social welfare. Extending maximum benefit durations is applied to potentially all the UI recipients, including unemployed workers whose wage before job loss is relatively low and whose marginal utility is relatively high. However, increasing wage replacement rates is applied to only a small number of UI recipients whose wage before job loss is relatively high, while the increase in the UI premium is passed onto all of the employed. This study suggests that given the current UI system and economic environment in Korea, it is more desirable to extend maximum benefit durations rather than to increase wage replacement rates in terms of social welfare.

• Journal of Service Research and Studies
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• v.5 no.1
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• pp.35-43
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• 2015

Regional comparative analysis for the variability of young man's employment indexes is important to unemployment or employment policy data of central and local government. Through the result of comparative analysis, central and local government can use differentiated policies for the regions and keep the efficiency for the application of detailed policy. In this study, based on economically active population survey data which consider economically active population rate, employment population rate and unemployment rate as typical employment indexes of young man, we analyzed the variability of these indexes by metropolitan cities and province regions using coefficient of variation. Also we proposed the largest index in variability of three employment indexes, and proposed the city and province region with the largest variability for each employment index.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.12
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• pp.53-62
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• 2020

The COVID 19 pandemic has led to a new global recession and is still causing a lot of issues because of the delays in the employment of people. This scenario has severe consequences for many countries' labor markets in the world. This problem's complexity and importance requires an integrated method of subjective and objective evaluation rather than intuitive decisions. This research aims to investigate sustainable indexes for assessing the unemployment problem by using a Multi-Criteria Decision-Making Model (MCDM). Grey theory and Decision Making Trial and Evaluation Laboratory (GDEMATEL) are deployed to transform the experts' opinions into quantitative data. The analysis based on 20 crucial criteria is employed to determine the weights of sustainability of unemployment problems. The results revealed that the top ten of determinants are Economic growth, Industrialization, Foreign direct investment, Real GDP per capita, Education level, Trade Openness, Capacity Utilization Rate, Urbanization, Employability skills, Education system expansion, which have the most significant effects on the unemployment rate under COVID 19 impacts. Furthermore, GDEMATEL could effectively assess the sustainable indicators for unemployment problems in "deep and wide" aspects. The study proposes the Grey MCDM model, contributes to the literature, provides future research directions, and helps policymakers and researchers achieve the best solutions to the unemployment problems under "economic shocks."

• Journal of Labour Economics
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• v.23 no.1
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• pp.167-190
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• 2000

The Korean labor market is changing very fast after the economic crisis. In the middle of 2000, the unemployment rate has decreased to the less than 4% and wage income has recovered to its pre-crisis level. However, the number of employed and the labor market participation rate has not yet recovered, and income inequality is widening. In this situation, there is some concern about the potential for the histeresis phenomenon, which occurred in Europe after 1970, and means that a high unemployment rate could continued regardless of price levels. Therefore, focus should be placed on the labor market policy for the 21 st century reducing structural unemployment through creation of jobs in order to solve problems of unemployment and income distribution simultaneously.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.7
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• pp.55-66
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• 2021

The purpose of this study is to analyze the relationship and effects of variables both directly and indirectly (e.g., investment (INV), government expenditure (GE), unemployment rate (UR), economic growth (EG), and income inequality). The analytical phases consist, first, to transform the data using the Log Natural (Ln) method. Second, to check normality and multicollinearity of data. Third, to test direct effects of variables (government expenditure and investment effect on the unemployment rate and economic growth; investment on government expenditure; economic growth on unemployment rate; economic growth and unemployment rate on income inequality). Fourth, to test indirect effects using Sobel test, which involves UR and EG as intervening variable. Fifth, to test hypotheses with p-value < 0.05. The results of the study reveal that, of the 12 relationships, statistics show that 11 variations of the association have significant positive and negative effects. Theoretically, the different characters and goals of GE and INV in each country will have a different impact on EG and UR goals. The study provides an input, especially for the government. To create optimal EG through GE and INV, it is necessary to allocate budgets to industrial sectors that can absorb a massive labor force and to new economic growth sectors.