[Editorial] Job Creation is Top Priority

This year’s college graduates will have more difficulty in finding employment in the second half of this year compared to last year. It is a pity that we will have to see more of our young people frustrated with repeated failures on the job front. How could they have a genuine concern for the upcoming inter-Korean summit or the presidential elections? The biggest topic of conversation nowadays is certainly employment. Therefore, top priority should be given to employment even during the last several months of the Roh Moo-hyun administration and the presidential election.

According to a recent survey of 538 listed conglomerates by Internet job portal Incruit, the employment level for college graduates and experienced personnel will drop 9.8 percent in the second half of 2007, compared to last year. Although the number of companies with recruiting plans increased as much as 18 percent in 2004, the figure has continuously dropped each year. This year, the number of companies that have hiring plans has even decreased compared to a year earlier. The situation is worse in 352 listed small or medium-sized companies. They are planning to cut the numbers of recruits by 20.1 percent.

However, the Roh administration announced that it will creates 200,000 jobs each year from 2007 to 2010, though its term ends in early 2008. Moreover, Jeon Yun-cheol, the chairman of the Board of Audit and Inspection, even pointed out, “It is doubtful whether the figures are reliable.” Jeon also pointed out that the government must adjust or improve its budget management, saying, “Each of 11 government ministries has injected a large budget into (job creation).”

The government has been all talk and no action on countless occasions. President Roh said in the 2004 New Year’s address, “Creating more jobs will be the utmost priority of the government.” He poured an enormous amount of tax payers’ money into creating so-called “social employment,” but his efforts have hardly made any progress. He blamed his failure in May on the gap between supply and demand of human resources. His campaign pledge of creating 300,000 new jobs has long been considered empty words.

The world’s leading countries have been lifting regulations and making all-out efforts to create a corporate-friendly environment in an attempt to create jobs. On the contrary, the Korean government has made companies hesitant to invest or expand their business by punishing conglomerates, putting an excessive emphasis on social welfare, and snowballing the size of the government. Now, numerous domestic firms have no choice but to cut jobs. Such mistakes must not be repeated.

Each of the presidential hopefuls from both the ruling and opposition parties is calling for “job creation.” It is delightful to hear as it shows that they are also aware of its importance. However, their words will not bear fruit unless they draw up specific action plans which can induce strong business investment which results in creating good jobs. The public cannot afford to be deceived once more.