KDI Economic Outlook 2018-2nd Half Analysis on the Increase in Unemployment Rates Since 2014 November 06, 2018
KDI Economic Outlook 2018-2nd Half
Analysis on the Increase in Unemployment Rates Since 2014
November 06, 2018
- Summary
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■ The unemployment rate increases (0.23%) in 2014-2017 can mostly be explained by industry-level mismatch and deficient labor demand with the latter having a bigger impact in recent times.
■ To alleviate the unemployment problem, labor demand must be promoted and more jobs created while labor market conditions are improved to reduce industry-level mismatch unemployment.
■ Policy efforts must be made to reduce other (age structure) mismatch unemployment which accounts for the majority of unemployment.
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