• Mon. Apr 15th, 2024

Vice Minister: Korea Faces Shortage of 900,000 Workers By 2032 Due to Slowing Economy

BySamantha Johnson

Mar 15, 2024
Vice Minister: Korea Faces Shortage of 900,000 Workers By 2032 Due to Slowing Economy

During a government meeting at Government Complex Sejong, Vice Labor Minister Lee Sung-hee emphasized the need for the government to create jobs for 894,000 more people in the next decade to address the economic slowdown caused by the country’s declining population. The remarks were made based on a report by the Korea Employment Information Service, which highlighted the impact of rapid aging and a declining birthrate on the labor market.

The report pointed out that the demand for workers in sectors like child care, health, welfare, information, communications, and scientific technologies will increase, while the number of manufacturing jobs will decrease. It stated that in order to achieve economic growth by the end of 2032, the country needs to add 894,000 more workers.

In response to the decreasing working-age population, the government plans to implement policies to boost the employment of youth, women, and middle-aged and elderly people. These policies will include expanding flexible work programs, enhancing child care support, and providing assistance for job transitions. The government will also focus on matching workers with the right skills to suitable positions in the short term.

Additionally, Vice Labor Minister Lee Sung-hee pledged to support the issuance of work permits for foreign workers and assist them in settling in the country. This will help to address the labor shortage and contribute to economic growth in the country.

By Samantha Johnson

As a content writer at newszkz.com, I delve into the realms of storytelling, blending words to paint vivid narratives that captivate and inform our readers. With a keen eye for detail and a passion for research, I craft compelling articles that resonate with our audience. My love for words drives me to explore diverse topics, ensuring that each piece I create not only educates but also entertains. Join me on this journey as we navigate the ever-evolving landscapes of news and knowledge together.

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