People in 40s isolated from job market recovery
By Lee Kyung-min The employment situation for middle-aged breadwinners is deteriorating as people in their 40s kept losing their jobs in December 2019, despite a “recovery” in the overall job market, data showed Wednesday.Statistics Korea reported that the country added 516,000 jobs in December, the highest number since August 2014 when the economy added 670,000.The number of jobs in all other age groups increased in December but those in their 40s, mostly family breadwinners, saw 128,000 jobs disappear.The loss was offset by the 479,000 jobs added for those in their 60s and older, followed by 94,000 for 50-somethings, and 69,000 for young people aged between 15 and 29, but a mere 2,000 for the 30-somethings.The Ministry of Economy and Finance said the job market is showing gradual yet firm signs of recovery, but experts refuted such optimism saying that only part-time or poor quality jobs are being created for those aged over 60. Sung Tae-yoon, an economist at Yonsei University, said the job market is hardly on a recovery track.“What the government is eager to call
Jan 16, 2020By Lee Kyung-min