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Turnover and Re-employment of Youth in Seoul: Policy Implications for Youth Unemployment

Jinha KimㆍMin Young Hwang

The purpose of this study is to resolve youth unemployment and contribute to policy measures for youth employment by identifying the job turnover and re-employment characteristics of youth in a dynamic analysis. Toward this end, this study has analyzed youth employment policies in Seoul, and the status and empirical features of young workers in Seoul. This study has raised the issue of young people increasingly and voluntarily leaving work due to unsatisfied working conditions, which may be the underlying factor contributing to youth unemployment. Young workers choose to leave their jobs in search of better working conditions. Turnover improves discrepancies between pay and workability levels; however, it may represent a lost opportunity to receive welfare benefits. Repeated turnover has been shown to lower the pay levels. Welfare benefits and job satisfaction have been the key determinants of job turnover. Therefore, the policy for young people should be designed to support the transition via rational selection and settlement in new jobs considering the active job search efforts of youth. Specific information rather than policy measures that focus on job creation are needed to generate jobs matching work available. It is also necessary to support Small and Medium Enterprises (SMEs) to improve working and cultural conditions in order to prevent young people from leaving the SMEs.