Indian Journal of Science and Technology

Abstract

In order to explore the recent youth unemployment crisis faced by many countries, this study conducted an empirical analysis on the factors affecting regional youth employment in South Korea. Using variables suggested by both foreign and domestic studies, a hierarchical regression analysis showed that indicators such as the budget for job creation, the rate of increase in the number of businesses, and the road pavement rate do not have a significant effect on youth employment. Conversely, economic and social indicators such as the natural population growth rate, increases in the number of workers, the number of businesses with more than five employees, per-capita labor cost in the wholesale and retail trade industry, residential life satisfaction, and the share of business funding from the issuance of debt have a significant effect. Accordingly, to increase youth employment, policymakers should strive to increase immigration as well as the share of business investment funds in debt utilization rather than investing in road pavement or job creation.
Keywords: Budget for Job Creation, Employment, Hierarchical Regression Analysis, Natural Population Growth Rate, Unemployment, Youth Employment