• Journal of Labour Economics
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• v.33 no.3
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• pp.89-127
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• 2010

This paper explores the causes and solutions of the problem that the official unemployment rate does not adequately represent the reality of the employment situation in Korea. First, compared to ILO's international standards, there are several differences in the measurement of unemployment in Korea, for example, the treatment of unpaid family workers working less than 18 hours per week, the classification of persons who are waiting for a new job or temporarily laid-off, and the criteria of job search activities. The questionnaire structure of the Labor Force Survey in Korea also misleads the judgment of economic activity state. Comparing the responses of the basic survey to those of the supplementing survey, approximately 90% of the responses show discrepancies and this indicates the possibility of misclassification. Next, this paper suggests the extended unemployment indicators as alternative, based on the current survey. The extended unemployment indicators support the presence of significant amounts of hidden unemployed and underemployed. And, it is found that the analyses using those indicators are very useful for the investigation of many aspects of employment dynamics.

• Korean Business Review
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• v.12
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• pp.275-301
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• 1999

The year of 1998 was a very hard time for the most of Koreans. The rate of unemployment, which had averaged between 2 and 2.5 percent for many years, has continued to rise as the industrial production declined from the first quarter of 1998. The seasonally unadjusted unemployment rate recorded high of 8.4 percent in the first quarter of 1999, and the number of the unemployed as 1.75 million. On the other hand, the unemployment rate in Kangwondo used to be smaller than the nation-wide rate. However, this should not be taken as evidence that Kangwondo's economy used to perform better than others, because the participation rate also used to be smaller in Kangwondo than other regions. Anyhow, the unemployment problem is one of urgent issues in Korean society. The purpose of this paper is to overall review Kangwondo's unemployment counterplan and to make priorities about what we have to do against the long-run unemployment. In addition to implementing unemployment countermeasure of the central government, Kangwondo has to devise in itself unemployment counterplan reflecting local attributes.

• KDI Journal of Economic Policy
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• v.39 no.4
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• pp.69-94
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• 2017

This paper re-examines the impacts an institutional arrangement may have on labour market outcomes such as the employment and unemployment rates. Based on the results from a generalized econometric model, the generosity of unemployment insurance benefits, organized labour and active labour market policy have effects on a labour market in line with previous findings. However, taxes on labour and the degree of employment protection are found to affect neither the employment rate nor the unemployment rate. Thus, some findings in this paper validate earlier findings, whereas others do not.

• Journal of Preventive Medicine and Public Health
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• v.36 no.1
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• pp.85-91
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• 2003

Objectives : We investigated the effects of the economic growth and unemployment rates on the suicide rate in Korea, between 1983 and 2000, using a time-series regression model. The purpose of this study was to model and test the magnitude of the rate of suicide, with the Korean unemployment rate and GDP. Methods : Using suicide rate per 100,000 Koreans and the unemployment rates between 1983 and 2000, as published by the Korea National Statistical Office, and the rate of fluctuation of the Korean GDP (Gross Domestic Product), as provided by the Bank of Korea, as an index of the economic growth rate, a time-series regression analysis, with a first-order autoregressive regression model, was peformed. Results : An 81.5% of the variability in the suicide rate was explained by GDP, and 82.6% Of that was explained by the unemployment rate. It was also observed that the GDP negatively correlated with the suicide rate, while the unemployment and suicide rates were positively correlated. For subjects aged over 20, both the GDP and unemployment rate were found to be a significant factors in explaining suicide rates, with coefficients of determination of 86.5 and 87.9%, respectively. For subjects aged under 20, however, only the GDP was found to be a significant factor in explaning suicide rates (the coefficient of determination is 38.4%). Conclusion : It was found that the suicide rate was closely related to the National's economic status of Korea, which is similar to the results found in studies in other countries. We expected, therefore, that this study could be used as the basis for further suicide-related studies.

• Journal of the Economic Geographical Society of Korea
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• v.2 no.1_2
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• pp.83-102
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• 1999

The aim of this paper is to explore the trend and structural features of unemployment in Germany and to review the local and regional labour market policy against the unemployment. Unemployment has been one of the major issues in Germany since the oil shocks oi 1973-74 and 1978-80. The unemployment rate in western Germany was low at the time of reunification in 1990 and the next consecutive two years. Since then, the unemployment rate has sharply risen due to the restructuring of industries. In an effort to reduce the unemployment and to search (or new employment policies, the specific roles and advantages of communal units have been appreciated. The local and/or regional labour market policies are characterized as fellows: the corporative networking of all the agents including local administration, education institutes, regional labour bureau, firms and interest groups; the systematic integration of the various instruments which have been separately installed by different sectors; and the target-oriented adjustment of labour market approaches in the local circumstances.

• Journal of the Korea Society for Simulation
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• v.24 no.2
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• pp.31-39
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• 2015

Unemployment is related to social issues as well as personal economics activity so various policies have been made to reduce the unemployment rate in many countries. Because of delay inherent in the survey mechanism to collect unemployment data, it takes lots of time to acquire survey unemployment data. To develop proper policies for reducing unemployment rate at the right time, it is quite critical to obtain faster and more accurate information concerning about unemployment level. To remedy this problem, recently an advanced analytics utilizing internet queries is suggested. To examine the potential of Web query information, this research investigates the usefulness of internet activity data to predict Korean unemployment rate. One of selected web-query data(unemployment claim) has a quite strong correlation with unemployment rate. This research employes a time series approach of the ARIMA model that utilizes the information of keyword queries provided by the Naver(Korean representative portal site) trend together with unemployment rate data provisioned from Statistics Korea. With respect to model selection guidelines of mean squared error and prediction error, the model with utilizing the web query information shows better results than the model without such information. This suggests that there is a strong potential for the used method, which needs to be further explored.

• The Journal of the Convergence on Culture Technology
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• v.9 no.5
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• pp.119-124
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• 2023

This study analyzed the impact of the real estate changes on the unemployment rate in Korea. Using monthly data from January 2013 to February 2023, the study employed a multiple regression analysis model. The key findings are as follows: First, there was a significant causal relationship between the real estate changes and the unemployment rate. Specifically, an increase in the real estate market led to a significant decrease in the unemployment rate, while a decrease in the real estate market resulted in a significant increase in the unemployment rate. Second, an increase in the loan interest rate was found to significantly reduce the unemployment rate, while a rise in interest rates had positive effects on the employment. Furthermore, an increase in inflation was associated with a significant rise in the unemployment rate. Moreover, an increase in the number of permits issued for housing construction significantly reduced the unemployment rate. Lastly, conducting robustness tests by substituting variables did not significantly alter the analysis results, indicating the robustness of the impact of the real estate changes on the unemployment rate. Based on the above analysis, it can be inferred that the fluctuations in real estate prices in South Korea are linked to fluctuations in the unemployment rate, and stable management of the real estate market may contribute to the stability of the unemployment rate.

• Journal of the Korean Data and Information Science Society
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• v.15 no.1
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• pp.1-10
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• 2004

In the Korean Economically Active Population Survey(EAPS), the sample sizes for small areas are typically too small to provide reliable estimators because the EAPS has been designed to produce unemployment statistics for large areas such as Metropolitan Cities and Province. In this study, we consider the synthetic and composite estimators for the unemployment rate of small areas, and apply them to real data on Choongbook province which is from the Korean EAPS of December 2000. The mean square errors of these estimators were estimated by the Jackknife method, and the efficiencies of small area estimators were evaluated in terms of the relative standard errors and the relative root mean square errors. As a result, the composite estimator is much more efficient than other estimators and it turns out that the composite estimator can produce the reliable estimates of the unemployment rate of small areas under the current EAPS system.

• The Journal of Asian Finance, Economics and Business
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• v.10 no.1
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• pp.201-208
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• 2023

The coronavirus (COVID-19) pandemic poses disastrous effects on human lives and hinders global efforts to realize the Sustainable Development Goals (SDGs) by 2030. The study examined the effects of the pandemic on unemployment toward realizing the SDGs. The downsizing and collapse of businesses have forcibly left many unfortunate Malaysians jobless and without income. The situation may directly influence government efforts to achieve SDG 8 'Decent work and economic growth', which indirectly affects SDG 1 'No poverty', SDG 2 'Zero hunger', and SDG 3 'Good health and well-being'. Pre-and post-pandemic assessments on unemployment and retrenchment level by sector were performed by adopting observation and data comparison methods. Critical findings revealed that the unemployment rate has risen among males and females and the youth, as well as the number of retrenchments. The services sector, specifically the wholesale, retail, trade, and hotel industry showed the highest number of retrenchments. Some important unemployment issues were also covered in this study, including the demand for employment, the role of government and business, and the effect of the gig economy on the current employment landscape. The avenue for future studies can focus on additional societal effects that could prevent the country from attaining the SDGs by 2030.

• Journal of Information Processing Systems
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• v.14 no.4
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• pp.904-915
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• 2018

We demonstrate how social media content can be used to predict the unemployment rate, a real-world indicator. We present a novel method for predicting the unemployment rate using social media analysis based on natural language processing and statistical modeling. The system collects social media contents including news articles, blogs, and tweets written in Korean, and then extracts data for modeling using part-of-speech tagging and sentiment analysis techniques. The autoregressive integrated moving average with exogenous variables (ARIMAX) and autoregressive with exogenous variables (ARX) models for unemployment rate prediction are fit using the analyzed data. The proposed method quantifies the social moods expressed in social media contents, whereas the existing methods simply present social tendencies. Our model derived a 27.9% improvement in error reduction compared to a Google Index-based model in the mean absolute percentage error metric.