[EDITORIALS]Unemployment saps us

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[EDITORIALS]Unemployment saps us

Reports of 87 applicants for each position at our conglomerates are staggering. Things may have been worse in Korea’s pre-industrialized era, but the statistic shows how bad unemployment is now.
The number of young people giving up their job searches is increasing as well; the unemployed are suffering and the problem is getting worse. The number of unemployed young adults is more than 300,000, and even workers in their 30s, who should be at the center of our economy, are losing their jobs. The problem shows signs of being a structural one. Even if the economy recovers, it is hard to believe that companies will recruit as heavily as they did in the past.
The government has to take the lead in finding a solution. It is a waste of national resources when young people who should be pouring out their creativity on the job are wandering the streets with a resume. Additionally, the fewer young people who work, the lower personal consumption remains. In the end, everything will move toward economic stagnation and massive unemployment. We should not leave the problem unsolved; it could drain the life force of our economy.
The biggest cause of the unemployment is the economic recession. Policy measures must focus on reviving the economy and creating jobs. In order to do that, the president and the Assembly should first eliminate the uncertainty in economic and political policy. If politics are as uncertain as the economy, investment and consumer activity will not grow as they should. The president and the political parties should focus strongly on finding a way to bring the economy back to life.
Our leaders should not just overlook the abnormal situation where young people fresh out of college have to face fierce competition on their first step in entering the national work force.
It is urgent that the president and the four major political parties discuss in detail how to revive the economy and improve the life of the Korean people. That is more important than any other issue.

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