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Worries of ‘Lost Generation’ as Job Cliff Looms for Young Koreans

Worries of ‘Lost Generation’ as Job Cliff Looms for Young Koreans

SEOUL, Jan. 15 (Korea Bizwire) — Concerns are growing about South Korea’s young people who are facing the risk of falling into what some are calling a ‘lost generation,’ as the prospects of a so-called job cliff are deepening due to the COVID-19 pandemic. According to Statistics Korea, the annual jobless rate of young people [...]

Almost 30 pct of Instructors at Private Institutes Lost Jobs amid Pandemic

Almost 30 pct of Instructors at Private Institutes Lost Jobs amid Pandemic

SEOUL, Dec. 7 (Korea Bizwire) — More than one out of four instructors at private institutes lost their jobs during the course of the new coronavirus pandemic, predominantly without unemployment benefits, a survey showed Monday. In an online survey on the effect of COVID-19 on 500 instructors released by Gabjil 119, a workers’ advocacy group, [...]

Job Losses Extend into Sept. amid Pandemic, Unemployment Rate Rises to 3.6 pct

Job Losses Extend into Sept. amid Pandemic, Unemployment Rate Rises to 3.6 pct

SEJONG, Oct. 16 (Korea Bizwire) — South Korea lost about 392,000 jobs in September, marking a decline in the number of the employed for the seventh consecutive month, as the coronavirus pandemic hammered job markets, data showed Friday. The country’s jobless rate rose by 0.5 percentage point on-year to 3.6 percent in September, with the [...]