• East Asian Economic Review
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• v.23 no.3
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• pp.261-284
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• 2019

This paper explores the ramifications of international outsourcing on unemployment, income distribution and welfare, which is an important but yet unresolved issue. Using the well-known Harris-Todaro (1970) model of sector-specific unemployment, it shows that the effects of outsourcing on employment, income-distribution and welfare depend on the sector in which the outsourcing occurs, whereby sectoral factor intensities, unemployment-outsourcing response and the dynamic stability condition play crucial roles. In particular, outsourcing in the manufacturing (primary) sector widens (narrows) income inequality by increasing (decreasing) the sectoral wage gap and raising (not affecting) the rental income of the capital owners in the economy. Moreover, outsourcing in the manufacturing (primary) sector can be welfare-decreasing (is always welfare-increasing) due to its negative (positive) employment effect mitigating (reinforcing) the primary gains from the outsourcing.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.29 no.4
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• pp.51-57
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• 2006

Recently, youth unemployment is not a mere economic problem in Korea. It could be developed into a serious social problem. It has been long since youth unemployment rate was more than double in total unemployment rate, which stood at 3.5 percent in 2005 and then the inactivity among the younger job-seekers is appearing to be chronic. Hence, this paper examines the status and causes of the youth unemployment problem and studies the possibility to apply the Demand-Supply Chain Management to the problem.

• The Journal of Industrial Distribution & Business
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• v.9 no.3
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• pp.19-29
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• 2018

Purpose - This study empirically analyses the changes in unemployment rates to understand push factors of generating wage pressure and how it affects the aggregate demand in Korea and the United States. We use a structural macroeconomic model which is centered on the labor market and simultaneously explains the natural rate of unemployment and deviations. Research design, data and methodology - We attempt to empirically analyse the unemployment rates through two countries to analyse the economic effects of real wages and aggregate demand between 2000 and 2016. We introduce having estimated the whole model that the growth of unemployment into the part caused by each of these factors. Results - The results of this study show that in the long run, there is not only a natural level of employment but also a natural level of real demand are positively related. in the short run, demand can vary from bring about changes in employment by means of price or wage surprises. Conclusions - The pressure of demand in the labor market shows up strongly in both countries. The estimated labor-demand equation are consistent with this framework and generally have well defined real wage and demand effects.

• 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 Asian Finance, Economics and Business
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• v.10 no.1
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• pp.201-208
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• 2023

The coronavirus (COVID-19) pandemic poses disastrous effects on human lives and hinders global efforts to realize the Sustainable Development Goals (SDGs) by 2030. The study examined the effects of the pandemic on unemployment toward realizing the SDGs. The downsizing and collapse of businesses have forcibly left many unfortunate Malaysians jobless and without income. The situation may directly influence government efforts to achieve SDG 8 'Decent work and economic growth', which indirectly affects SDG 1 'No poverty', SDG 2 'Zero hunger', and SDG 3 'Good health and well-being'. Pre-and post-pandemic assessments on unemployment and retrenchment level by sector were performed by adopting observation and data comparison methods. Critical findings revealed that the unemployment rate has risen among males and females and the youth, as well as the number of retrenchments. The services sector, specifically the wholesale, retail, trade, and hotel industry showed the highest number of retrenchments. Some important unemployment issues were also covered in this study, including the demand for employment, the role of government and business, and the effect of the gig economy on the current employment landscape. The avenue for future studies can focus on additional societal effects that could prevent the country from attaining the SDGs by 2030.

• Korean Journal of Social Welfare
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• v.56 no.3
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• pp.159-181
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• 2004

This study examines the realities and causes of youth and new college graduate unemployment, and seeks some assignments for mitigating youth and new college graduate unemployment. An analysis of the realities and causes of youth and new college graduate unemployment is summarized as follows. First, youth unemployment rate, which rapidly increased after the IMF economic crisis, slowly decreased after 2000, but was still somewhat higher in 2002 than that before the IMF. Second, new college graduate unemployment rate, which rapidly increased after the IMF economic crisis, slowly decreased after 2000 and became a similar level to that before the IMF economic crisis, but the number of the unemployed new college graduates highly increased after the IMF. Third, an analysis of the causes of youth unemployment shows that economic growth and the employment elasticity of economic growth negatively affect the unemployment rate, and the rate of entrance into colleges positively affects the unemployment rate. Fourth, an analysis of the causes of new college graduate unemployment demonstrates that economic growth and the employment elasticity of economic growth negatively affect the unemployment rate, and the increase rate of new college graduates, the college graduate/youth population ratio, and the time trend positively affect the unemployment rate. These results suggest several implications for mitigating the unemployment rate of the youth and new college graduates. First, in order to increase labor demand, emphasis must be placed on preparing economic conditions which can raise economic growth rate and on fostering industries and occupations which have high employment elasticity. Second, in the aspect of labor supply, it is necessary to adjust the number of new college graduates corresponding to labor demands in industries. Third, in order to redress the mismatch between the demand and the supply of the youth labor market, attention should be paid to remedying educational systems such as the activation of vocational education and training in middle and high schools and the reformation of college education to match the education and training provided in colleges and the skills requirements of the world of work, and preparing a unified program to support the youth unemployed systematically and synthetically.

• 재활복지
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• v.17 no.4
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• pp.127-149
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• 2013

This study analyzed the hazard of unemployment and the influencing factors on the rate. Data came from the Panel Survey of Employment for the Disabled(PSED), 2010-2012, which is a longitudinal survey for 5,092 disabled people in Korea. For the main purpose of this study, the life-table method was used for describing the patterns of unemployment duration by disabled, and the cox proportional hazard model was used to identify significant factors on the unemployment duration. The results were as follows. First, according to the life table analysis, the unemployment rate to remain until the longest period of unemployment(25month) is 90.5%, and the rate of entry into the labor market was only 9.5%. Overall, the unemployment maintenance rate was high, the unemployment escape rate decreased after 12month. Second, looking at the results from the cox proportional hazards model, the unemployment escape possibility were increased for those who are male, are non-public benefit recipient with disability, have mild disability, and have less discrimination experiences. With these results, disability discrimination act which can reduce the disability discrimination in employment site should be strengthened. Also, the scheme of Nation Basic Protection Program should be modified to attract the employment of recipients with disability. Finally, policy targets having employment escape difficulty, such as women with disability, people with severe disabilities should be departmentalized. And employment service is provided in accord with the individual needs and characteristics.

• 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.

• 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."

• The Journal of the Korea Contents Association
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• v.13 no.12
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• pp.808-816
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• 2013

This study examined the correlation between college students' unemployment stress and affecting factors including physical symptoms, mental health, and self-esteem. In the results, students appeared to have more stress when they were female, in higher grades, in low satisfaction in their school life, in the lack of leisure time, in inadequate preparation for employment, and when they had none of those who could share their feeling on unemployment than students in the opposite situations. Students' physical and mental health had a positive relation with unemployment stress, and self esteem had a negative relation with unemployment stress. After multivariate analysis, the factors affecting unemployment stress were senior grade and depression. On the other hand, the factors predicting low umemployment stress were male sex, high level of self esteem, and satisfaction in preparation for employment. Therefore, the counselling program for employment preparation should include intervention strategies for enhancing self-esteem besides providing with information of employment.