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194920
Thu, 07/14/2011 - 02:19
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Create more jobs
(EDITORIAL from the Korea Times on July 14)
Create more jobs
Time to further improve labor market conditions
It is good news that the nation recorded the biggest growth in the number of working people since July last year. According to the Statistics Korea, the number totaled 24.75 million last month, up 472,000 from a year before. The increase was the largest in 11 months.
The data was an encouraging sign that job market conditions have improved significantly, returning to the level seen before the 2008 global economic crisis. Strong exports and increased industrial output played a leading role in providing more jobs for locals. As a result, the monthly unemployment rate edged down by 0.2 percentage points year-on-year to 3.3 percent.
We hope the government and businesses work together more closely to keep alive the growing momentum to overcome the chronic problem of economic growth without job opportunities. Of course, job creation is easier said than done. It is easy to imagine how hard it has been to supply more jobs over the past several years.
The so-called jobless growth is not confined to Korea. Many other countries, both developed and developing, have been undergoing the same problem in the aftermath of globalization, automation and informatization. The unprecedented global recession has also dealt a severe blow to the labor market throughout the world.
It is fortunate that Korea is now raising hopes for more job opportunities. Strategy and Finance Minister Bahk Jae-wan said Wednesday that the June employment data was a surprise. However, we cannot paint too rosy a picture about job prospects as the nation still faces many challenges down the road.
First of all, the jobless rate for those aged between 15 and 29 is still too high although it dropped to 7.6 percent last month from 8.3 percent a year earlier. Considering the fact that statistics usually cannot catch up with a grim reality, one out of five young people is estimated to be out of work. There will be no bright future for the young if they cannot land a job.
Another problem is the large legion of part-timers or day laborers who cannot find full-time jobs. Their number is estimated roughly at more than 5 million. These workers still tolerate discrimination in terms of wages and working conditions. Policymakers and employers should make efforts to ensure that such workers enjoy better treatment and equal opportunities.
What???s also worrisome is that more and more jobseekers have given up their attempt to hunt for jobs despite the improving employment situations. Besides, a growing number of the self-employed have been driven out of business, casting a shadow over the economy.
Last year, executives of the nation???s top 30 business groups pledged to create 3 million jobs over the next eight years. They should put action before words as the nation???s top priority is to generate jobs in order to ensure sustainable economic growth.
Create more jobs
Time to further improve labor market conditions
It is good news that the nation recorded the biggest growth in the number of working people since July last year. According to the Statistics Korea, the number totaled 24.75 million last month, up 472,000 from a year before. The increase was the largest in 11 months.
The data was an encouraging sign that job market conditions have improved significantly, returning to the level seen before the 2008 global economic crisis. Strong exports and increased industrial output played a leading role in providing more jobs for locals. As a result, the monthly unemployment rate edged down by 0.2 percentage points year-on-year to 3.3 percent.
We hope the government and businesses work together more closely to keep alive the growing momentum to overcome the chronic problem of economic growth without job opportunities. Of course, job creation is easier said than done. It is easy to imagine how hard it has been to supply more jobs over the past several years.
The so-called jobless growth is not confined to Korea. Many other countries, both developed and developing, have been undergoing the same problem in the aftermath of globalization, automation and informatization. The unprecedented global recession has also dealt a severe blow to the labor market throughout the world.
It is fortunate that Korea is now raising hopes for more job opportunities. Strategy and Finance Minister Bahk Jae-wan said Wednesday that the June employment data was a surprise. However, we cannot paint too rosy a picture about job prospects as the nation still faces many challenges down the road.
First of all, the jobless rate for those aged between 15 and 29 is still too high although it dropped to 7.6 percent last month from 8.3 percent a year earlier. Considering the fact that statistics usually cannot catch up with a grim reality, one out of five young people is estimated to be out of work. There will be no bright future for the young if they cannot land a job.
Another problem is the large legion of part-timers or day laborers who cannot find full-time jobs. Their number is estimated roughly at more than 5 million. These workers still tolerate discrimination in terms of wages and working conditions. Policymakers and employers should make efforts to ensure that such workers enjoy better treatment and equal opportunities.
What???s also worrisome is that more and more jobseekers have given up their attempt to hunt for jobs despite the improving employment situations. Besides, a growing number of the self-employed have been driven out of business, casting a shadow over the economy.
Last year, executives of the nation???s top 30 business groups pledged to create 3 million jobs over the next eight years. They should put action before words as the nation???s top priority is to generate jobs in order to ensure sustainable economic growth.
