Real Reality
Joined: 10 Jan 2003
Location: Seoul
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 Posted: Thu Dec 23, 2004 7:23 pm Post subject: Job Seekers Pessimistic |
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Job seekers pessimistic about outlook as economic slump continues
The number of Koreans filing claims for unemployment insurance benefits is set to outstrip the level during the 1997-98 financial crisis, reflecting the serious state of the economic slump that has hamstrung the nation's job market for years, government officials said yesterday.
According to the Labor Ministry, a whopping 426,625 new unemployed workers applied for unemployment compensation as of the end of November. The record of 438,465 was set in 1998 when the country was struck by a major financial crisis that led to an International Monetary Fund bailout program. Faced with financial difficulties, many firms at the time conducted massive layoffs as part of restructuring.
By Lee Sun-young, The Korea Herald (December 24, 2004)
http://www.koreaherald.co.kr/SITE/data/html_dir/2004/12/24/200412240022.asp |
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