Employment conundrum looms large in South Korea with aging population
Seoul: South Korea on Wednesday floated the idea of dictating that companies continue to employ workers beyond the current retirement age of 60, a move that could have far-reaching implications on Asia’s fourth-largest economy. The move came amid growing need for older people to stay in the labor market longer as the country’s working-age population […]
Job additions hit 18-month high in July
Seoul: The number of new jobs in South Korea rose to their highest in 18 months in July on the back of a rise in employment in the health care, food and leisure-related sectors, with the jobless rate up slightly to 3.9 percent, government data showed Wednesday. The number of employed people in Asia’s fourth-largest […]
GDP growth affects S. Korea’s employment most
South Korea’s economic growth rate has had the greatest impact on the country’s employment level among major macroeconomic variables over the past years, a report showed Wednesday. A 1 percentage-point gain in South Korea’s real gross domestic product (GDP) is estimated to have boosted the number of employed people by 0.41 percentage point between 2000-18, […]
China determined to stabilize, expand employment
After China established vocational education and training centers in northwest China’s Xinjiang Uygur Autonomous Region, some western officials and media outlets constantly attacked China with groundless accusations. However, if they had paid attention to heated discussions about vocational education during China’s two sessions in early March and interpreted China’s moves from that perspective, their misunderstanding […]
China takes measures to stabilize employment
China is still facing large employment pressure as over 15 million new members of the labor force are flocking in urban areas this year. In front of the double threats of the complex international situation and the downward pressure on the domestic economy, how to better guarantee and facilitate employment remains a major challenge for […]
China moves to stabilize employment via entrepreneurship
Chinese provinces, municipalities, and autonomous regions have rolled out a package of measures to stabilize employment, which was prioritized as the main task in their recently-released government work reports. Entrepreneurship has created more jobs in recent years. In 2018, the fifth year China implemented its business system reform, the country perfected its business environment and […]
“Young, old generations do not understand each other”
Complaints and conflicts are piling up between the young and old as Korea is rapidly becoming an aging society, which leaves the young working class with a heavier economic burden to take care of elderly citizens. “The rapidly ageing population and low birthrate have put our society at risk, inevitably landing the younger generations a […]
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