Korean Job Discussion Forums

Troll_Bait · Posted: Mon Dec 15, 2008 3:19 am Post subject: Real Unemployment as High as 12%

http://english.chosun.com/w21data/html/news/200812/200812150010.html

Milwaukiedave · Joined: 02 Oct 2004 Location: Goseong

We were talking about this in my business class the other day. The official unemployment numbers can be decieving. If these estimates are true, then things are looking pretty bad.

sojourner1 · Posted: Mon Dec 15, 2008 5:36 am Post subject:

This 12% is in Korea? Yep. And this didn't start over night; same for the rest of the world. The global financial/economic crisis has been building up since 1999/2000. The dot com bubble burst was only the beginning while the Bush administration did very good at keeping the whole system from crashing to protect wealthy investor interests, but actually did more harm than good in the process.

Last year, a Korean I talked with often told me that young Koreans were concerned that they weren't enough jobs for graduates coming out of colleges and universities. Now I get it. If most Americans are not doing well enough to buy all this stuff, then Korea can't sell it or it has to find a new market and that's unlikely. While Korea is an isolated eccentric rags to riches kind of guy with deep pockets, he's not immune to this problem.