S. Korean government to roll out package of measures to boost sluggish job market
Arirang News
2020-04-20
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"그냥 쉰다" 237만명 사상 최대...이번 주 고용안정 패키지 발표
The COVID-19 pandemic has made a difficult situation even worse for the nation's job market.
With the number of people laid off at a record high, the South Korean government plans to roll out special measures this week.
Kim Jae-hee reports.
The COVID-19 pandemic has battered South Korea's job market.
A record high of near 2-point-4 million people dropped plans to find work last month.
The number of people in their 20s who gave up on job searching increased by almost 36 percent on-year to stand at 412-thousand as of March.
And the number of people in their 40s that gave up on looking for a job increased by 29 percent on-year to stand at 268-thousand.
The number of those who have been laid off temporarily also hit a record high last month,... surpassing 1-point-6 million.
That's a whopping 364 percent increase from the same period last year,... and highest since related data was first compiled in July 1983.
A lot of those being laid off temporarily,... were in the education, dining, retail and wholesale industries.
"I get paid based on the days of work. I usually go in every day, you know, weekdays. But now, nothing at all. So we're actually,... having difficult time at the moment really. "
According to a recent survey by Incruit a local online job placement portal two out of three companies in the country have canceled plans to hire new employees this year, after the coronavirus outbreak.
Amid the grim economic outlook,... the South Korean government has pledged to lay out a package of measures to try and revitalize the sluggish job market this week.
One economic expert says there needs to be extreme support measures to overcome this unprecedented crisis.
"We are seeing the most serious situation since the 1997 financial crisis. Young people who have just graduated from college can't get a job and build up their career. The government needs to take extreme measures to maintain employment, support job creation, and provide financial aid to companies."
"With the economic impact of the coronavirus outbreak not expected to end any time soon,... all eyes are on what kind of aggressive measures the government will unveil this week,... to revive the virus-hit job market.
Kim Jae-hee, Arirang News."
The COVID-19 pandemic has made a difficult situation even worse for the nation's job market.
With the number of people laid off at a record high, the South Korean government plans to roll out special measures this week.
Kim Jae-hee reports.
The COVID-19 pandemic has battered South Korea's job market.
A record high of near 2-point-4 million people dropped plans to find work last month.
The number of people in their 20s who gave up on job searching increased by almost 36 percent on-year to stand at 412-thousand as of March.
And the number of people in their 40s that gave up on looking for a job increased by 29 percent on-year to stand at 268-thousand.
The number of those who have been laid off temporarily also hit a record high last month,... surpassing 1-point-6 million.
That's a whopping 364 percent increase from the same period last year,... and highest since related data was first compiled in July 1983.
A lot of those being laid off temporarily,... were in the education, dining, retail and wholesale industries.
"I get paid based on the days of work. I usually go in every day, you know, weekdays. But now, nothing at all. So we're actually,... having difficult time at the moment really. "
According to a recent survey by Incruit a local online job placement portal two out of three companies in the country have canceled plans to hire new employees this year, after the coronavirus outbreak.
Amid the grim economic outlook,... the South Korean government has pledged to lay out a package of measures to try and revitalize the sluggish job market this week.
One economic expert says there needs to be extreme support measures to overcome this unprecedented crisis.
"We are seeing the most serious situation since the 1997 financial crisis. Young people who have just graduated from college can't get a job and build up their career. The government needs to take extreme measures to maintain employment, support job creation, and provide financial aid to companies."
"With the economic impact of the coronavirus outbreak not expected to end any time soon,... all eyes are on what kind of aggressive measures the government will unveil this week,... to revive the virus-hit job market.
Kim Jae-hee, Arirang News."
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