SEOUL, Sept. 15 (Korea Bizwire) — The number of so-called ‘NEETs,’ or young stay-at-home South Koreans who have been jobless for more than three years, has surpassed the 100,000 people milestone. Statistics Korea showed that, as of May of this year, there were 278,000 young South Koreans who have been jobless for more than three [...]
SEOUL, Sept. 8 (Korea Bizwire) — The amount paid out in jobless benefits fell slightly in August from the previous month while the number of employment insurance subscribers increased at a faster rate, data showed Monday. The signs of improvement in the labor market, however, are unlikely to persist this month as the nation tightened [...]
SEJONG, Aug. 25 (Korea Bizwire) — The employment rate for nine minor cities in South Korea fell in the first half of this year, as the coronavirus pandemic hit job markets, data showed Tuesday. The employment rate for the nine cities, including Jeonju, Osan, Yangsan and Chuncheon, stood at 58.3 percent in the first half, [...]
CHANGWON, July 16 (Korea Bizwire) — Concerns are growing about foreign workers who have lost their job due to the outbreak of the coronavirus. Making things worse, they are at risk of becoming illegal immigrants due to a lack of flights to return to their home countries. The Gyeongnam Migrant Center and civic group Gyeongnam [...]
SEOUL, Jan. 13 (Korea Bizwire) — The proportion of unemployed people aged 25-29 in South Korea has ranked the highest among member nations of the Organization for Economic Cooperation and Development (OECD), a report showed Monday. According to the report by the Bank of Korea (BOK), the 25-29 age bracket accounted for 21.6 percent of [...]
SEOUL, Aug. 23 (Korea Bizwire) — Debt recovery applications are spreading among vulnerable members of the population including retired seniors, business owners, day laborers, and the jobless. The Credit Counselling & Recovery Service reported that 4,910 small business owners had applied for debt recovery this year as of July. The number of applications decreased between [...]
SEOUL, Sept. 13 (Korea Bizwire) – The frozen job market in South Korea is showing no signs of thawing. Disappearing part-time jobs at restaurants, wholesale and retail businesses are deteriorating the outlook for young people, as unemployment approaches the rock bottom felt during the financial crisis in the late 1990s. The employment data for August [...]
SEJONG, March 22 (Korea Bizwire) – South Korea ranks low among the member nations of the Organization for Economic Cooperation and Development (OECD) in terms of the period during which jobless workers get unemployment benefits, a report said Wednesday. The relatively shorter period for unemployment allowances is a testament to the low level of the [...]
SEJONG, Feb. 16 (Korea Bizwire) – Last month’s youth unemployment rate (ages 15 to 29) announced by Statistics Korea Wednesday was 8.6 percent, which was a 0.9-percent drop from January 2016, and seemingly a good sign given the record high unemployment rates observed last year. Unfortunately, this was not the result of an improving labor [...]