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NUMBER OF DISCOURAGED WORKERS IN SOUTH KOREA HITS NEW HIGH

Asia's fourth-largest economy had 628,000 discouraged workers, the largest tally
since related data tracking began in 2014, according to data from Statistics
Korea.

 * IANS
 * January 25, 2022, 08:08 IST

 * 
 * 
 * 
 * 
 * 
 * 
 * 
 * 

The increase in the number of discouraged workers is widely seen as resulting
from the flaccid labour market because of the fallout from the unabated health
crisis.Seoul: The number of discouraged workers in South Korea touched a fresh
all-time high in 2021 due to a weak job market amid the prolonged Covid-19
pandemic, government data showed on Monday.

Asia's fourth-largest economy had 628,000 discouraged workers, the largest tally
since related data tracking began in 2014, according to data from Statistics
Korea.

Discouraged workers refer to those who are currently unemployed and have not
sought to find jobs in the last four weeks due to no suitable job options or
other reasons, though they are eligible for employment and are willing to work,
with the experience of having looked for jobs in the past year, reports Yonhap
news Agency.


Advertisement
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NURTURING A HEALTH-FIRST MINDSET IN THE WORKFORCE

01 February 2022 @ 10:30 AM

Join this virtual Roundtable in association with Deloitte in order to understand
the steps that can be taken by the firms in building a health-first mindset.

 * 
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Register Now
The increase in the number of discouraged workers is widely seen as resulting
from the flaccid labour market because of the fallout from the unabated health
crisis.

The data also showed the number of unemployed South Koreans who sought to find
jobs for six months or longer standing at 128,000 last year, up 8.1 per cent
from 2020 and switching to an upturn in three years.

Long-term unemployed Koreans in their 20s and 30s numbered 65,000, accounting
for slightly more than half the total.

The hike in the number of discouraged workers and long-term unemployed people
came despite South Korea's headline jobless rate fell to 3.7 per cent in 2021
from 4 per cent a year earlier, with the number of unemploted people falling by
71,000 to 1.04 million.



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Industry
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Unemployed
south korea
seoul
Job Market
International
Discouraged workers
covid 19


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VERTEX GROUP EXPANDS AND APPOINTS DR ASIF IQBAL (CHAIRMAN, IETO) AS CHIEF
ADVISOR

According to a statement, Vertex Group (Vertex Global Services) announced its
expansion into the Middle East after being present in the US, UK, India,
Philippines & Nepal with more than a thousand employees. Following this, the
Vertex Group also announced the appointment of Dr Asif Iqbal as the Chief
Advisor.

 * ETHRWorld

Click Here to Read This Story
 * 
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The statement also said that the Vertex Group is furthering their venture by
announcing Dr Asif Iqbal, Director General of the Asian Arab Chamber of Commerce
and President of IETO, as the Chief Advisor.According to a statement the Vertex
Group, world's 19th most innovative company, has announced that it is expanding
as ‘Vertex Next’ in its Middle East chapter. It will provide comprehensive
solutions for strategic growth involving large-scale exhibitions and conferences
on various industries such as IT, education, and research along with quality
corporate training across IT, finance, leadership and HR functions to deliver
progressive and transformational results.

Along with this announcement, the statement also said that the Vertex Group is
furthering their venture by announcing Dr Asif Iqbal, Director General of the
Asian Arab Chamber of Commerce and President of IETO, as the Chief Advisor.

The statement deliberated on Dr Iqbal’s achievements as he has been bestowed by
a Doctorate from the University of Jerusalem in Social Behaviour Management, and
has been a keynote speaker at various academic conferences and international
summits including the World Economic Forum, Caspian Week, India Africa forum,
Summit of Minds and the Paris Peace Forum.



Gagan Arora, CEO and Strategic Growth Leader, Vertex Group, further expressed
his views in the statement and said, “Through Vertex Next, our aim is to bridge
the gap between buyers and sellers through contextual exhibitions and
conferences for key markets in the Middle East, Africa & Asia region.”

Arora continues to express his delight on the new addition to the board members
of Vertex Group stating, “I am absolutely delighted to have Dr Asif Iqbal on
board. His extensive experience working with a diverse range of stakeholders,
including internal and external benefactors, policymakers, the media, the
private sector, and industry, will add value to Vertex Group.”

Upon his appointment as Chief Advisor, Dr Asif Iqbal said in the statement,
"Vertex Group builds strong relationships with clients and has a track record of
supporting the workforce to deliver exceptional value creation. Vertex is deeply
committed to achieving organizational excellence, and I'm looking forward to
working with the team who has grown to 6 countries in just 5 years with 1000+
people."


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