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Economic Report

Economic reports, briefs issued by Samsung Economic Research Institute

Weekly Briefs (June 3 - 7)

Weekly Briefs (June 3 - 7)

June 10, 2013

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Monday, June 3
The government announced a roadmap for boosting the country's employment rate to 70% by creating 2.38 million jobs by 2017. The plan was set out amid the country's so called "jobless growth," wherein the employment rate has stood in the 63-64% range for the past 10 years. In an effort to reach the target, the government is planning to create a favorable environment for starting new businesses and develop new types of jobs. Plus, in order to enforce more flexibility in the labor market, average working hours will be shortened, and decent part-time jobs will be created for women and young people. Consequently, the government expects the annual rise in the employment rate to expand from 2015 if the roadmap is implemented as scheduled.

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