10th Meeting to Review Economic Policies
10th Meeting Discusses Ways to Help Job Markets
Vice Minister of Economy and Finance Ko Hyoung-kwon presided over the 10th meeting to review the government’s economic policies, held on October 12, and discussed ways to help the job market. The meeting was held right after the September job data were released.
The following is a summary of the discussion.
Quality of employment improved, but new job growth has yet to pick up
- Permanent jobs continued to grow and young adult employment rose.
- A total of 45,000 new jobs were added, leaving a lot to be picked up although it is an improvement from July or August data.
- Temporary and daily jobs continued to decline, raising concerns about shortages of jobs for low income workers
Government support will focus on promoting private sector investment, as well as on increasing jobs for low income workers
- Support for low income workers will be designed according to the level of skills, regions and industries.
- Government will help the private sector create decent jobs through financial and tax supports, as well as by easing difficulties in proceeding projects
- Government will continue to pursue the administration’s ‘innovative growth’ policies as we will work to boost the competitiveness of major industries and improve regulations, with our focus on increasing jobs for the future, as well as now.
Please refer to the attached pdf
