Korean Job Discussion Forums

[strange_brew]

that is shedding jobs or economies are faltering.

http://www.chinapost.com.tw/business/asia/korea/2009/04/16/204471/South-Korea's.htm

South Korea's job losses at the highest for a decade
SEOUL -- South Korea last month recorded the highest number of job losses for a decade, official data showed Wednesday, dimming hopes of an early recovery from the economic downturn. The figures for March showed 195,000 fewer jobs than in the same month last year, with the number of those in work falling 0.8 percent year-on-year to 23.11 million.

That was the biggest loss in the export-dependent nation since 390,000 jobs disappeared in March 1999 in the wake of the East Asian economic crisis.

�Despite some improving signs, it's still too early to say the economy will turn around any time soon,� Lee Sung-Kwon, an economist at Goodmorning Shinhan Securities, told Dow Jones Newswires.

�The global economy is still mired in a recession.�

The unemployment rate in March was 4.0 percent, the National Statistical Office said, the highest since February 2006 when it reached 4.1 percent. The rate was 3.9 percent in February.




Everybody is in trouble in this world wide recession. Mind you, their unemployment rate is far lower than in Canada or the U.S. But just when I hear people say that in the West, it is far worse, it isn't, this is affecting everyone (our social system is a bit better equipped to deal with this though, IMO.) In Canada, we lost 61,000 jobs in March, also not a nice figure. I just want some people here to get their heads out of the sand and realise that it isn't all sunshine and roses here either, and be happy that you do have a job that keeps you eating, because many here or there (wherever there is,) don't.

[Joe666]

Ya, it sucks! I hate to hear news like that anywhere. I guess all it really took was a very small percentage of greedy American donkeys to set off this lovely chain of global events. I am an American and not proud to say that I am disgusted with how this materialized in my country. It's no wonder Americans are dispised around the world. This just put a fat juicey cherry on top!!

[bogey666]

[Joe666]

bogey666 spews:

are you an idiot?
sorry, stupid question.

I like to think of myself as a moron. Regardless of what happend or is happening in other first world economies, it was the greed of the mortgage industry, the shady workings of Wall St. and the inferior auto's that Detroit manufactures that really topped it all off. I understand that a lot of factors contributed to this global mess, but when most if not all stock markets feed off of the U.S. markets and the U.S. markets tank, a ripple effect occurs. That's pretty much what is happening now! Yes. Unfortunately, the U.S. has/had a responsibility to the rest of the world in regard to this discussion and we failed. Deregulation of the lending industry and Wall St. practices killed us. There are more Japanese and German cars on American roads than the big 3 models. Why? they last longer, more econonomical etc.

Is it really any coincidence that as soon as the NASDAQ and S&P500 dropped like an anvil out of a skyscraper, the Asian and South American indicies followed suit?

I don't claim to be and expert, but I know some people who I believe and trust have their shit together in this area. This is what I have been told, countless times. I believe this could have been avoided in extremity, if the U.S. had it act together!

bogey, your unwaivering high level of intelligence comes to light when you post: "are you an idiot, sorry stupid question."

It's OK brother, I still love you!

[GwangjuParents]

Could you imagine what would happen to the unemployment rate in Korea if the large department stores decided to cut their policy of having at least 1 employee for every 3 feet of space.

[wylies99]

[the ireland]

[Robot_Teacher]

It's a global phenomenon. Governments are now strategizing by pumping trillions of dollars into economies, but that won't fix our big economic system problems either as that is just socializing the rich to continue lining their pockets for a terrible job done. Rewarding bad behavior on the highest levels. It's OK for the rich to line their pockets if they're contributing to their country; great companies, innovative products, and good jobs, but few business leaders are doing that today. It's just all about looting via day trading the financial markets.

The other thing that has to be fixed is establishing equilibrium in the global economy.
For example: If Korea sells $1 trillion of goods to the USA, the USA should sell Korea $1 trillion of goods, but Korea (and others such as China!) put up barriers to fair international trade to operate like a vacuum in the global economy. It's a zero sum game where the wealth (and jobs!) left America and other Western countries instead of the East and West simply trading money and goods. There has to be yin and yang, not all yin and no yang.

[bogey666]

hey Joe.. and any other innnate American basher(s) out there.

why has this gone global?
there are plenty of countries and economies who aren't indebted who SHOULD be completely shielded from all of this mess.

But they are not.

Why? you should ask yourself....

and.... you should also ask yourself WHY are these other economies and countries (who admittedly are far more responsible fiscally)..

why is their "business/success - model" based on hordes of stupid fat Americans buying lots and lots of things (their things) that they don't really need???

if that's what your "economy" depends on, you should STFU. (hello China, Korea, Germany etc etc etc)