Korea’s employment-to-GDP ratio falls to record low in 2017
- 6 years ago
Korea's economic growth recovered to the three percent range last year, but the job market is still struggling.
The Bank of Korea said Monday that the country's employment-to-GDP ratio was 17-point-two in 2017, falling to a record low from 2016's 17-point-five.
The employment-to-GDP ratio measures the number of newly added employees per one billion Korean won, or 935-thousand U.S. dollars, of GDP,... showing whether economic growth is leading to people finding work.
The ratio usually falls along with technological development but the speed of the drop is raising concern.
After hitting 43-point-one in 1990, the ratio fell below 30 in 1997, and has been under 20 since 2009.
The Bank of Korea said Monday that the country's employment-to-GDP ratio was 17-point-two in 2017, falling to a record low from 2016's 17-point-five.
The employment-to-GDP ratio measures the number of newly added employees per one billion Korean won, or 935-thousand U.S. dollars, of GDP,... showing whether economic growth is leading to people finding work.
The ratio usually falls along with technological development but the speed of the drop is raising concern.
After hitting 43-point-one in 1990, the ratio fell below 30 in 1997, and has been under 20 since 2009.