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 [...]
SEOUL, March 3 (Korea Bizwire) – Outstanding student loans, a rising unemployment rate, and an unstable housing environment are leaving Korean youth (from 19 to 34) on the brink of permanent poverty. According to the latest report on youth poverty from the Korea Institute for Health and Social Affairs, the poverty rates for those aged [...]
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 [...]
SEOUL, Feb. 13 (Korea Bizwire) – Korea’s youth unemployment rate is skyrocketing to unprecedented levels, and the unemployment rate for workers between the ages of 15 to 24 has surpassed that of the U.S. for the first time in 16 years. Even amidst the global economic recession, youth unemployment in most advanced countries has partially [...]
SEJONG, Jan. 23 (Korea Bizwire) – The number of unemployed people, when the definition is increased to include those who are studying or training to get a job, reached 4.53 million last year, state statistics showed Monday. While the official number of unemployed last year was 1.01 million, the “real” number that counts these people [...]
SEOUL, Jan. 16 (Korea Bizwire) – South Korea’s top 100 large-cap companies have cut more than 7,000 jobs in 2016, data showed Monday, as they are reluctant to hire new employees amid the economy’s prolonged sluggishness. According to the data by market tracker Chaebul.com, the leading companies had a combined 861,578 employees as of the [...]
SEOUL, Dec. 26 (Korea Bizwire) – A growing number of unmarried persons are starting their own businesses apparently due to a lack of jobs, a report suggested Monday, noting the jobless rate of young people has remained record high. According to the report from Statistics Korea, 12.2 percent of all single men were self-employed as [...]
SEOUL, Dec. 21 (Korea Bizwire) – It seems as though finding a job in Korea is getting tougher by the year. In a recent survey of 2,653 job applicants by Saramin, an online recruitment platform, 79.3 percent of the respondents said the job search process was more difficult during the second half of this year. [...]
SEOUL, Dec. 9 (Korea Bizwire) – Four out of 10 job seekers in their 20s and 30s have prepared for state tests to become a civil servant, a poll showed Friday, a sign that government jobs are popular in South Korea amid growing job insecurity. The leading online job search portal JobKorea said its poll [...]
SEOUL, Dec. 6 (Korea Bizwire) – The road to employment is more arduous than ever for young South Koreans with the country’s youth unemployment rate (aged 15 to 29) reaching record levels, naturally leading to more companies hiring older workers for entry level positions. According to recruitment web portal Saramin, 84.9 percent of 649 surveyed [...]