Young Koreans Continue to Have A Hard Time Finding Jobs
It looks like it is still a tough job market for younger and even middle aged Koreans. More part time work to older people and retirees is contributing to the the tight job market:
Korea has been losing its economic vitality as the Moon Jae-in administration’s efforts to boost employment have led to more part-time jobs for retirees and fewer full-time positions for young jobseekers, according to economists here and overseas, last Friday.
Criticizing the government for its short-sighted labor policies, the economists urged the administration to devise long-term strategies for the country’s sustainable growth.
“The government’s labor policy is more like a measure to help senior citizens maintain their incomes,” said Lee Phil-sang, an economics professor at Seoul National University. “The economy lacks the ability to create jobs. It has lost the ability since the nation’s key industries have lost their global competitiveness.”
According to Statistics Korea, the number of employees in their 30s and 40s in June 2019 dropped by 32,000 and 182,000 respectively from a year earlier. The number of workers aged between 15 and 29 also decreased, by 4,000.
In addition, 66,000 people lost manufacturing jobs ― the number of workers in the sector has fallen for 15 straight months.
Korea Times
You can read more at the link.
All commie moon’s policy are designed purposefully to destroy the South Korean economy.
“Criticizing the government for its short-sighted labor policies, the economists urged the administration to devise long-term strategies for the country’s sustainable growth.”
Ha! Generally, LESS GOVERNMENT is the answer.
Korea’s response to the Asian Financial Meltdown (aka IMF or Eye Em Aaaap) was so fantastic it is mentioned in textbooks when I got a master’s in international development policy.
Short Version: throw away all the bullshit regulations that pile up for reasons other than helping the economy
But long-term strategies are important.
They are not based on regulations… but based on predicting where the world is going and insuring the supply part of the country is ready and supported.
Lots of people know this… but ideology gets in the way.
Pne would think, assuming one had two brain cells to rub against each other, the evidence that central planning creates shortages, misery, poverty, ecological disaster, and massive death counts was already fully explored in the 20th Century. North Korea, Russia/USSR, China, Cuba, Zimbabwe, Cambodia, and Venezuela are prime examples of what can go wrong. There are probably at least 75 others in various stages of collapse.
Only the uneducated, the feeble-minded, or those with a gun at their heads would vote for such a system.
And only lazy moochers and looters despise what Marx called Capitalism, which is the natural barter system common to all people-groups.