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Factors in a Sustainable Labor Market: Evidence from New College Graduates’ Initial Job Placement in Korea

Daeheon Choi (), Chune Young Chung (), Mira Yoon () and Jason Young ()
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Daeheon Choi: College of Business Administration, Kookmin University, 77 Jeongneung-ro, Seongbuk-gu, Seoul 02707, Korea
Chune Young Chung: School of Business Administration, College of Business and Economics, Chung-Ang University, Seoul 06974, Korea
Mira Yoon: School of Business Administration, College of Business and Economics, Chung-Ang University, Seoul 06974, Korea
Jason Young: College of Business, Washington State University, Pullman, WA 99164, USA

Sustainability, 2020, vol. 12, issue 6, 1-22

Abstract: Young Koreans have been experiencing stress and employment barriers due to progressively worsening employment issues since the late 1990s. College graduates spend excessive amounts of time job hunting, necessitating institutional and policy measures to improve their initial labor-market performance. We, therefore, attempt to empirically analyze the relevant factors. Focusing on sustainable job quality, company size, wages, and satisfaction levels for students’ first jobs after graduation, and we specifically use college education quality and graduates’ employment-preparation activities as independent variables and initial labor-market performance as a dependent variable. First, we measure education quality using vocational education and training, satisfaction with college education, and studying a language abroad. We find that they are positively associated with new graduates’ initial labor-market performance. Second, we measure employment preparation activities using internship experience, certificates obtained, and scores on standardized English exams. Internship experiences are positively associated with new graduates’ initial labor-market performance. These findings suggest that the Korean government should focus on establishing a sustainable labor market for new graduates and offer specific, diverse support programs to improve employment among young Koreans.

Keywords: sustainable labor market; college education quality; employment-preparation activities; initial labor-market performance (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
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