This Week's Employment Policy Package Released... Focus on Youth Unemployment Measures

Job Training Likely Excluded... "Less Effective During COVID-19 Infectious Disease"

Hong Nam-ki, Deputy Prime Minister and Minister of Economy and Finance (second from left), is leaving the briefing room with related ministers after concluding the joint briefing of relevant ministries on the results of the 3rd Emergency Economic Meeting held at the Government Seoul Office in Jongno-gu, Seoul, on the 30th. On the left is Park Neung-hoo, Minister of Health and Welfare. Photo by Kim Hyun-min kimhyun81@

[Asia Economy Reporter Jang Sehee] The government will announce a package of employment stability policy measures this week. The package is expected to include employment retention, unemployment measures, and emergency jobs. Attention is also focused on whether measures related to the youth employment market affected by the novel coronavirus disease (COVID-19) will be introduced.

According to related ministries such as the Ministry of Employment and Labor and the Ministry of Economy and Finance on the 19th, the measures are expected to include youth unemployment countermeasures and stabilization of the living conditions of workers in blind spots.

A government official said, "We are preparing various policies such as unemployment benefits and direct job support," adding, "Currently, the unemployment target is the youth, not the elderly." He emphasized, "If young people fail to enter the market early, they may lose their abilities and be excluded from society."

In fact, according to the 'March Employment Trends' announced by Statistics Korea on the 17th, the number of employed people decreased in all age groups except those aged 60 and over (336,000). The youth group was particularly affected the most. The decreases were ▲20s, -176,000 ▲40s, -120,000 ▲30s, -108,000 ▲50s, -75,000.

Earlier, Hong Nam-ki, Deputy Prime Minister and Minister of Economy and Finance, emphasized, "Based on a serious recognition of the recent situation, we will double our all-out efforts to minimize the negative impact of COVID-19 on jobs, as jobs are the foundation and basis for protecting the livelihood economy."

Meanwhile, vocational training is expected to be reduced or excluded from this employment measure compared to the original plan. This is due to the judgment that large-scale education is difficult because of the risk of COVID-19 infection. A government official said, "In an infectious disease situation like COVID-19, even if training measures are introduced, they will not work well."