One out of Five Workers in Thirties Was Out of Work

In the second half of 2002, one out of five workers in their thirties was out of work. According to the report about unemployment insurance trends, published by the Korea Labor Institute in December 2003, 416,819 workers in their thirties were disqualified from employment insurance in the second half of 2002.

The employment-loss insurance rate for 30-somethings, the result of dividing 416,819 by 2,388,564, the total employment insurance members in the second half of 2002, was 17.5 percent. It means that one in five workers in their thirties left their jobs, either willingly or unwillingly.

Among 30-somethings disqualified from employment insurance, 106,651 (25.6 percent) involuntarily changed their occupation. In other words, one in four workers were fired against their will.

The employment insurance loss rate of 30-somethings, 16.6 percent, is higher than the rate of over-sixties, 17 percent.

The employment insurance loss rate was highest in teenagers at 63.5 percent

In the second half of 2002, there were 4,192 more 30-somethings who lost their employment insurance, than 30-somethings who had taken out an employment insurance policy.

The 30-somethings average period from resignation to re-employment and re-joining employment insurance was 300.9 days, the longest period other than that for workers in their forties.

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On the other hand, the average salary of the 30-somethings having newly taken out an employment insurance policy, was 961,938, lower than the 50-somethings 989,753, 40-somethings 972,165 and even the late 20-somethings at 1,232,159.

Ho-Gab Lee gdt@donga.com