Gov't to announce details on job creation plan for youths
Korea will come up with detailed measures to create jobs for young people soon in response to recent challenges in the labor market, the finance minister said Thursday. Finance Minister Koo Yun-cheol made the remark during a meeting with economy-related ministers in Seoul, noting that employment among young people, as well as in the manufacturing sector, continues to remain sluggish despite…
Korea intends to unveil comprehensive plans to generate employment for young individuals soon, addressing recent issues in the labor market, according to Finance Minister Koo Yun-cheol. During a meeting with relevant ministers in Seoul, Koo pointed out that joblessness among young people and in manufacturing sectors remains stagnant, even as the economy expanded overall.
The day prior, the data ministry reported a 108,000 job increase in July compared to the previous year. However, the employment rate among 15 to 29-year-olds decreased by 1.6 percentage points to 44.2 percent, marking the 27th consecutive monthly decline. Conversely, the unemployment rate for this age group surged by 1.3 percentage points to 6.8 percent, the largest year-on-year rise in over five years.
Factors contributing to the sluggish employment and rising consumer prices include the ongoing conflict in the Middle East, an extreme heat wave, and a drought in certain regions. Koo assured that the government will swiftly devise and disclose measures to rejuvenate youth employment, along with sector-specific strategies.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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- Gov't to announce details on job creation plan for youths en.yna.co.kr
- Gov't to announce details on job creation plan for youths koreatimes.co.kr
