Korea's employment elasticity falls to lowest level since 2010
Korea's employment elasticity (고용 탄력성) , indicating the economy's ability to generate jobs, has fallen to its lowest level in more than eight years.
Using 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.
In the second quarter this year it was zero.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 the first quarter of 2010, when it was at zero.zero-seven..
At the time, the local economy was struggling to recover from the global financial crisis.
Using 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.
In the second quarter this year it was zero.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 the first quarter of 2010, when it was at zero.zero-seven..
At the time, the local economy was struggling to recover from the global financial crisis.
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