South Korean Youth Are Dropping Out of The Labor Force

 

South Korea faces a labor concern related to the youth population. South Korean youth are dropping out of the labor force. A harsh labor market and the growing economic downturn are causes. Then there is a shift in the nature of employment. Recent graduates are no longer going to accept jobs in the service sector or manufacturing. The notion that a person that spent effort on higher education to work in low skill or semi-skilled work is unrealistic. The expectation of working long hours with little benefits does not attract employees. As various companies and corporations suspend hiring, the youth grow more frustrated. Between filling out applications, job interviews, and searching the youth do not envision financial security. Those who are no longer looking or drop out of the workforce see no point contributing. The realization that the employee and workers are disposable created this sentiment. Technology at some stage is going to replace much of the white collar workforce. The working class will expand from those who lose their middle class status. South Korea manufacturing and construction sectors are effected by those who drop out of the labor force. Companies are only making it worse by doing ad hoc hiring. South Korea is seeing companies move away from graduate recruitment. Education was thought to be a pathway of acquiring better jobs and financial security. Over the past decade, this is not the case. Corporate avarice and the failures of neoliberal capitalism are driving South Korean youth away from the labor market.