Korea's employment elasticity falls to lowest level in 9 years
- 5 years ago
Korea's employment elasticity, indicating the economy's ability to generate jobs, has fallen to its lowest level in nine years.
Based on data from the Bank of Korea and Statistics Korea, the employment elasticity figure is the number of jobs added... divided by the country's real GDP growth.
Last year it was around zero-point-one.
That means even if the economy manages to expand the chances that it'll lead to job growth are low.
The previous low point in employment elasticity was in 2009, when it was at minus zero-point-five.
At the time, the local economy was struggling to recover from the global financial crisis.
Based on data from the Bank of Korea and Statistics Korea, the employment elasticity figure is the number of jobs added... divided by the country's real GDP growth.
Last year it was around zero-point-one.
That means even if the economy manages to expand the chances that it'll lead to job growth are low.
The previous low point in employment elasticity was in 2009, when it was at minus zero-point-five.
At the time, the local economy was struggling to recover from the global financial crisis.