South Korea's youth unemployment rate jumped one-point-four percentage point on-year in June, indicating more government efforts are required to remedy the issue.
Some experts suggest the South Korean government take a leaf out of other countries' books... if they genuinely want to tackle to problem.
Our Seo Eunkyung has the details. Many countries around the world have adopted an array of policies to foster youth employment,... seen as a major pillar of growth that sustains a nation's economy.
Germany's dual vocational and educational training programs... focus on aligning classroom instructions with real labor market demand.
The system puts young students through two-to-four year apprenticeships,... split evenly between classroom instructions at a vocational school... and job training at a participating company.
Students can learn about 350 different occupations ranging from automotive engineering to finance,... and receive salaries as soon as they start training.
Employers on the other hand, can save recruitment costs... as they can hire graduates of the program who are already familiar with the company's workflow.
The program is so popular,... that about 60 percent of high school graduates in Germany apply for the program each year.
Australia's Youth Jobs PaTH program is meant to create 30-thousand internships a year between 2017 to 2020, for job seekers between 17 and 24 years old.
Government subsidies cover the interns' salaries, as well as insurance and other benefits.
Employers also receive one thousand US dollars for each intern they take on, and become eligible to receive up to ten thousand dollars when they are hired as full-time workers.
As for Japan, the nation has put an array of measures under a policy called the revitalization strategy.
The scheme encourages young entrepreneurs by providing easy access to financing... through crowd-funding, low-interest loans and working capital.
In addition, it assigns personal assistants to help job-seekers find employment... and provide them with necessary information, job referrals and counseling.
Korea could take note of these case studies from abroad,... in hopes of devising effective job creation policies to alleviate its chronic youth unemployment issue.
Seo Eunkyung, Arirang News.
