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Comparatively, the 2008 Global Financial Crisis had minimal effect on South Korea, with the unemployment rate rising from 3.16 percent to 3.64 percent. [1] From 2008 to 2013, the unemployment rate remained relatively steady, averaging at 3.4 percent. [1] As of December 2021, the rate was 3.7 percent, in line with the average of the previous two ...
The unemployment crisis faced by the nascent South Korea were the least of the nation's concerns by the 1990s: studies report that by 1997, only 2.5% of Koreans were unemployed. [1] However, the sharp downturn the Korean economy experienced later that year during the Asian Economic Crisis proved the need for an active labor market policy and ...
South Korea ranked the highest in suicide rates out all OECD nations, along with the highest stress levels for youth between the ages of 11 and 15 years old. [12] South Korea spent around 7.3% of its GDP on health expenditures in 2016, [15] but as of 2014, only 2.6% of those health expenditures (US$43 million) was for the mental health budget. [16]
In 2020, the COVID-19 pandemic exacerbated economic inequality in South Korea. [5] South Korea's President, Moon Jae-in, attributed a deepening wealth gap between the rich and the poor to the 2020 COVID-19 pandemic. [6] South Korea's economy depends on the gross domestic product generated by a handful of the country's largest companies.
Unemployment rates rose in nearly all U.S. cities in June, reflecting a recent uptick in layoffs and a nation-wide slowdown in hiring. The Labor Department said Wednesday that unemployment rates ...
Unemployment rate (2021) [1] This is a list of countries by unemployment rate.Methods of calculation and presentation of unemployment rate vary from country to country. Some countries count insured unemployed only, some count those in receipt of welfare benefit only, some count the disabled and other permanently unemployable people, some countries count those who choose (and are financially ...
Great Workers' Struggle, mass wave of strikes in South Korea in 1987 demanding better working conditions and autonomous unions, inspired by the June Democratic Struggle. [3] 1988 Hyundai strike, 24-day strike by Hyundai Group workers in South Korea. [4] [5] 1988–89 Hyundai strike, 3-month strike by Hyundai workers in South Korea. [6] [7]
The economy of South Korea is a highly developed mixed economy. [19] [20] [21] By nominal GDP, the economy was worth ₩2.61 quadrillion (US$1.87 trillion).It has the 4th largest economy in Asia and the 12th largest in the world as of 2024. [3]