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Unemployment Rate to 11.5% ???
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Real Reality



Joined: 10 Jan 2003
Location: Seoul

PostPosted: Tue Aug 14, 2007 5:51 am    Post subject: Unemployment Rate to 11.5% ??? Reply with quote

'Inactive' Koreans Boost Unemployment Rate to 11.5%
Quote:
These people are not included in the economically-active population since they are not actively looking for work. That means they're not tallied in the NSO's unemployment figures. They include about 1.28 million people who have given up looking for work, 530,000 job-seekers who are taking lessons from private institutes and preparing for employment at home, 150,000 men who are raising children and doing house work and 240,000 volunteers and others.

That means the actual number of unemployed is four times higher than the official number. The official unemployment rate is 3.5 percent, but the actual unemployment rate is as high as 11.5 percent.

Yoo Byung-kyu, a managing director of the Hyundai Economic Research Institute, said, "With the prolonged economic slump, the gap between the official unemployment rate and the actual one is widening due to a surge in the number of jobless people giving up on finding work."

Chosun Ilbo (August 14, 2007)
http://english.chosun.com/w21data/html/news/200708/200708140011.html
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Billy Pilgrim



Joined: 08 Sep 2004

PostPosted: Tue Aug 14, 2007 5:56 am    Post subject: Reply with quote

'Real Swedish jobless rate 15%'
By David Ibison in Stockholm

Quote:
Sweden's unemployment rate is 15 per cent, three times the figure being used by the government, according to new research from McKinsey Global Institute, the think tank.


http://www.ft.com/cms/s/c18430e6-fc0b-11da-b1a1-0000779e2340.html
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hugo_danner



Joined: 21 Jun 2006
Location: korea

PostPosted: Tue Aug 14, 2007 6:14 am    Post subject: Reply with quote

Governments always fudge facts and figures to paint a rosier picture. Nothing new there!
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sojourner1



Joined: 17 Apr 2007
Location: Where meggi swim and 2 wheeled tractors go sput put chug alugg pug pug

PostPosted: Tue Aug 14, 2007 6:29 am    Post subject: Reply with quote

My neighbors are always home all day with their doors open. I know, because I come back when I get at least a 1 hour break between any classes as well as for lunch. I see young adults walking around all day every time I look who seem to be up to no good laziness and depression.

We are talking 20 and 30 year olds that don't hardly work or don't work at all. I ask myself, "is it because they lack career prospects or is it because they simply don't need to?" Dunno. I am guessing many depend on another source of income such as parents well into adulthood. It's true, many young adults don't work or do anything outside of raising small children so that may boost the unemployment rate figures. I know I be hearing allot of daytime soap opera like TV shows playing when I walk around during the day to and from work.
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Real Reality



Joined: 10 Jan 2003
Location: Seoul

PostPosted: Tue Aug 14, 2007 7:06 am    Post subject: Reply with quote

sojourner1 wrote:
My neighbors are always home all day with their doors open. I know, because I come back when I get at least a 1 hour break between any classes as well as for lunch. I see young adults walking around all day every time I look who seem to be up to no good laziness and depression.

We are talking 20 and 30 year olds that don't hardly work or don't work at all. I ask myself, "is it because they lack career prospects or is it because they simply don't need to?" Dunno. I am guessing many depend on another source of income such as parents well into adulthood. It's true, many young adults don't work or do anything outside of raising small children so that may boost the unemployment rate figures. I know I be hearing allot of daytime soap opera like TV shows playing when I walk around during the day to and from work.

Parents Pamper College-age Children: "Mom is my manager."
by Yi-Young Cho Soo-Jung Shin, Donga.com
http://english.donga.com/srv/service.php3?biid=2004050622478

For Graduates, Job Hunt Can Be Tough
Donga.com (July 13, 2006)
http://english.donga.com/srv/service.php3?biid=2006071317688

'Kangaroo generation' grows as graduates stay jobless
Job market tightens amid slumping economy, leaving many dependent on parents after graduation
Quote:
Lee, a 29-year-old woman who gave only her family name, still lives with her family in Daegu because she cannot find work - partly because of the tightening job market in the slumping economy and also because of her age.
After graduating from university in 2000, Lee prepared for examinations to be a lawyer but after several failed attempts decided a few months ago to try to find a job.

Like little kangaroos, they "cannot leave their mothers' wombs." ... Korea now has its own "kangaroo generation." The number of "kangaroos" is increasing as the prolonged economic slump continues and as many younger people, ignoring the downturn, reject jobs because pay and benefits are not up to their expectations and they can always fall back on parents in this family-oriented society.

A 27-year-old university graduate, known only his family name Park, was employed by a small manufacturing company but quit because he was not satisfied with his 1.3 million salary. So, he returned to live with his parents "to wait for the time being until I have a satisfactory job."

"These days, the young Korean generation lacks the will to accomplish something on their own," business administration professor Kim Dong-won at Korea University said. "Young people must develop their independence early on, through a part-time job or some other kind of education."

'Kangaroo generation' grows as graduates stay jobless By O Youn-hee, The Korea Herald (September 3, 2004)
http://www.koreaherald.co.kr/SITE/data/html_dir/2004/09/03/200409030007.asp
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LuckyNomad



Joined: 28 May 2007

PostPosted: Tue Aug 14, 2007 7:50 am    Post subject: Reply with quote

I was talking to one of my friends about this today. She's a college senior. She said that one of the reasons is that many Koreans don't want to work for smaller companies that do need employment because they lack prestige. The parents aren't going to be pround unless they can brag that their kids work for a big company like LG or Samseung. And with Koreans tendency to stay with 1 company forever, they don't want to work at a small company forever.

I noticed that in my town, one of the options for 20 something year old men is to live in the PC room by day and deliver Chinese food by night. It certainly keeps the cigarette industry in business.
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Yaya



Joined: 25 Feb 2003
Location: Seoul

PostPosted: Tue Aug 14, 2007 8:05 am    Post subject: Reply with quote

Yep, PC rooms are becoming foster motels to peeps who cannot afford housing, and some owners are accommodating them though I'm sure it's not legal.

The problem with Korea is that many companies seem paranoid about hiring, and well, it's not without good reason. Korean labor laws are among the strongest in the world, and it's so hard to fire someone, even if they are the worst inept idiots you've ever seen. So most companies simply choose not to hire or get temps, and even getting temps will be tough now that the law requires temps who finish two one-year contracts to be brought on full-time (a very European practice).

My answer is to alleviate labor law to allow more flexibility. I've been working temp, or "freelance" according to Koreans, for the past two years. It's not bad as you have more freedom with your schedule since it's more about getting the job done than putting in hours. I guess since I grew up in the U.S., I have a certain work mentality that differs considerably from the people here (as in I don't judge productivity by how many hours I spent in the office).

Then again, Europe has even higher levels of joblessness save Britain.
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mercury



Joined: 05 Dec 2004
Location: Pusan

PostPosted: Tue Aug 14, 2007 3:25 pm    Post subject: Reply with quote

One solution for the ladies ........


MARRY AN ENGLISH TEACHER!
Bulgogi dinners, Raw Fish, unlimited booze,trips to Thailand, Trips to America and Canada and Australia! Money in hand, prestige, apartment, great chance to improve English! Wink



these ladies are pretty smart! But....will it last Idea
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mikekim



Joined: 11 Aug 2006

PostPosted: Wed Aug 15, 2007 7:56 pm    Post subject: Reply with quote

mercury wrote:
prestige

Is there prestige in marrying a foreigner.
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just another day



Joined: 12 Jul 2007
Location: Living with the Alaskan Inuits!!

PostPosted: Wed Aug 15, 2007 8:02 pm    Post subject: Reply with quote

mercury wrote:
One solution for the ladies ........


MARRY AN ENGLISH TEACHER!
Bulgogi dinners, Raw Fish, unlimited booze,trips to Thailand, Trips to America and Canada and Australia! Money in hand, prestige, apartment, great chance to improve English! Wink



these ladies are pretty smart! But....will it last Idea


i thought foreign women english teachers made more than foreign english teacher men?

so does this mean foreign women english teachers are a better catch???

Idea
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amo_jh



Joined: 21 Jul 2007

PostPosted: Wed Aug 15, 2007 8:09 pm    Post subject: Reply with quote

there's a new saying in Korea, I suppose some of you may have heard, called "Lee Tae Baek", meaning most of people in 20s are jobless. Hunting and competing for jobs among college graduates in Korea is getting waaay out of control. I feel very bad for the koreans. They study their *** off during high school to get into univ, and start preparing for job interviews from day 1. A large portion of applicants for class 9 government positions are graduates from SKY (Seoul Univ, Yeonsei Univ, Koryo Univ, the 3 best univs in Korea). It's sad..
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VirginIslander



Joined: 24 May 2006
Location: Busan

PostPosted: Wed Aug 15, 2007 11:09 pm    Post subject: Reply with quote

I would like to track some of students over the next 10-20 years and write a book about it.

I would answer questions such as did the Piano, English, Science, Math and Tae-Kwon-Do lessons 1. develop a love of learning and 2. increase their job prospects?
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jaganath69



Joined: 17 Jul 2003

PostPosted: Thu Aug 16, 2007 12:55 am    Post subject: Reply with quote

just another day wrote:
mercury wrote:
One solution for the ladies ........


MARRY AN ENGLISH TEACHER!
Bulgogi dinners, Raw Fish, unlimited booze,trips to Thailand, Trips to America and Canada and Australia! Money in hand, prestige, apartment, great chance to improve English! Wink



these ladies are pretty smart! But....will it last Idea


i thought foreign women english teachers made more than foreign english teacher men?

so does this mean foreign women english teachers are a better catch???

Idea


Go out and get yourself one, my son. I'm sure they will fawn and fall over you with your knowledge of Korean drama.
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just another day



Joined: 12 Jul 2007
Location: Living with the Alaskan Inuits!!

PostPosted: Thu Aug 16, 2007 1:01 am    Post subject: Reply with quote

jaganath69 wrote:
just another day wrote:
mercury wrote:
One solution for the ladies ........


MARRY AN ENGLISH TEACHER!
Bulgogi dinners, Raw Fish, unlimited booze,trips to Thailand, Trips to America and Canada and Australia! Money in hand, prestige, apartment, great chance to improve English! Wink



these ladies are pretty smart! But....will it last Idea


i thought foreign women english teachers made more than foreign english teacher men?

so does this mean foreign women english teachers are a better catch???

Idea


Go out and get yourself one, my son. I'm sure they will fawn and fall over you with your knowledge of Korean drama.


is this what snarky is? or is that sarcastic?
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MissSeoul



Joined: 25 Oct 2006
Location: Somewhere in America

PostPosted: Thu Aug 16, 2007 1:09 am    Post subject: Reply with quote

mikekim wrote:
mercury wrote:
prestige

Is there prestige in marrying a foreigner.



At least his wife thinks so and she is a Japanese Laughing
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