Korea's employment-to-GDP ratio falls to record low in 2017

Published on 23 Apr 2018, 10:01
3%대 성장에도 GDP 대비 취업자 수 사상 최소

Korea's economic growth bounced back to the three percent range last year, but still..., no drastic improvement in the job market.
According to the Bank of Korea the country's employment-to-GDP ratio was 17-point-two in 2017, falling to a record low from 17-point-five recorded the year prior.
That ratio measures the number of newly added employees per one billion Korean won, or 9-hundred-35-thousand U.S. dollars, of GDP,... showing whether economic growth is leading to people landing jobs.
The ratio usually falls along with technological development... but the speed of the drop is raising concern.
After hitting 43-point-one in 1990, it dipped below 30 in 1997, and has been under 20 since 2009.

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