What is Youth Unemployment?
Youth unemployment refers to 16 to 24-year-old people who are physically healthy and actively seek employment but are not employed.
In the southern part of the United States, last September, nearly 700 people who were frustrated over the government’s countermeasures about youth unemployment gathered for a demonstration. The demonstration was held to demand changes in government policies on youth unemployment. This is not a problem that only exists in the United States. Even in Korea, this problem has emerged as a big problem to the extent that it has numerous buzzwords such as “880,000 won ages” (people who receive an average income of 880,000 won).Looking inside the reality of the United States and South Korea will shed some light on the causes of youth unemployment, and then discuss the resulting solutions to compare

The United States’ Reality
The rate of youth unemployment in the US, with the exception of students attending school, is 52.5%. The unemployment level is similar to the times of World War 2. This situation of youth unemployment, when compared to past economic downturns and that of other major industrialized countries, is at a very serious level. Some of the students who graduate from prestigious universities such as Harvard and Yale are working at places for low wages in an area outside of their major. There are even students who rely on food vouchers provided by the government. In addition, they are burdened with a debt worth 25million won in Korea money after they graduate. This kind of situation left students helpless, leading them to start large demonstration in the streets.

The Cause of US Youth Unemployment
First cause is the characteristics of youth employment. If the economy gets worse, experienced companies will seek for a quick profit. In order to satisfy such demands, young admits take additional vocational training. However, regardless of such effort, they are left with low skilled jobs. Also, even if these young people are employed, they work as “temporary employees” which is more vulnerable to restructuring. The department of service and construction are especially vulnerable, but to make matter worse, service accounts for approximately 78% the US youth unemployment.

Second, the postponed retirement of baby boomers has resulted in the reduction of employment opportunities for young people. As extend the average life expectancy is getting longer, baby boomers need to better prepare for their later years. Thus they feel the need to work longer, often postponing their retirement period. According to statistics, the employment of people bellow 54 years old in the United States show a significant decrease in number, while one million people over age 55 have shown an increase.

Third, the minimum wage increased. According to the Wall Street Journal, the minimum wage in Massachusetts increased by 88% between the years 1995 and 2008 and the, youth unemployment rate was reduced by 33%.

Fourth, American adolescents (compared to those in Korea) has relatively low academic achievement. If one does not have academic ability, one should usually go to a vocational school. However, student who attend these school do not have jobs when they graduate due to vulnerabilities in job fluctuation.

Korea’s Reality
South Korea’s youth unemployment rate compared to the overall unemployment rate is far higher than the average of OECD countries. Despite Korean’s eagerness for higher education, it was shown that they receive poor job education services. Therefore, while the education of youth in South Korea is high, these same students do not receive job preparation education. So the number of temporary workers in South Korea takes up the highest portion in OECD countries. In addition, the short and long term causes of these problems, appears to be very difficult to solve.

The Cause of Korea’s Youth Unemployment
First, there are too many college graduates. Unlike the past, when the number of Universities was small, these days the number has increased. Thus a considerate number of students are graduating each year. So, the number of highly educated people increased more than it had been in the past. This has resulted in a social atmosphere to choose clean and comfortable jobs in the service department rather than manufacturing, and other so-called 3D (difficult, dirty, dangerous) jobs.
Second, since the economic depression, people have reduced their consumption. This decrease caused profits of firms to which then led to a decrease in the supply of products. And this results in an overall decrease in the employment of youth

Third, profit-seeking firms are another factor that contributes to youth unemployment. During the depression, Companies did not hire young novice people but recruited experienced workers in the hopes of increasing profit. Therefore, companies hire more salespeople than researchers to increase profit. However many Korean graduates avoid becoming a salesperson, because of unstable income and negative social prejudices.

Fourth, Korea has bitter labor disputes. There are many foreign companies that have a lot of capital have a significant advantage over other companies. However, due to vigorous labor disputes, these companies are reluctant to invest in our country. As a result, the labor market can be a huge opportunity will be lost.

Conclusion
If the youth unemployment rate is increased, economic activities become passive. And this will cause a downturn in the economy, respecting its vicious cycle.
Youth have in common the vulnerable characteristics on a recession. Even when young people graduate from college, vocational training environments cannot properly help them. In order to fix these companies should try to understand what young people need. Young people should also turn their head to other sectors of employment. Youth employment has a prospect in field such as renewable energy sector, IT sector, culture, content, design develop strategic areas. These areas will definitely grow with young people’s active attention.
Also, young people have a tendency to look for jobs in leading conglomerates. They tend not to choose small businesses because a small business does not guarantee the future, and often has poor working conditions. Therefore, durable small businesses must be identified and nurtured.
Unlike the United States, Korea’s academic achievement is high. But youths don’t use their abilities from their education since it is distant from employment. Companies want talented person who contribute skilled labor to their working atmosphere. More employment – friendly classes need to be offered. Also, programs are needed to enhance student’s careers.
In addition, the government and society should work together to change Korean youth’s awareness about their occupations. Young people should choose a job they feel competent enough to pursue, rather than chase after glory and fame.
Also, corporations and labor unions must stop disputes. Both corporations and labor unions should reach an agreement and seek ways to prevent future problems. To reduce these disputes, the government should give clear and direct laws that both sides can comprehend.
Rising youth unemployment in the United States, we have been talking about the cause. Their problem is that we had a very similar. They has the youth unemployment problem due to their baby-boomer postponed their retirement and increase of the minimum wage. Similarly, Korea also has baby boomers, so young people’s burden is growing due to their pension. So we are urgent need to solve the problem. And if we still worry about the minimum wage , but we tense the increase minimum wage that might be burden for companies that hire unskilled youth.

With this, we learn about the causes of United States and South Korea’s youth unemployment. And we can discuss the way to resolve the situation through a comparison between the two countries. The phenomenon of threatening youth employment in the labor field is not a short-term problem. It is a problem that individuals, businesses, universities and society must solve. Therefore, as long as all efforts to try, they make a structure that can have a job that is suitable for their wants, and young people can work.

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