Economic Growth and Employment in the Korean Agri-Food Industry: Examining the Buffering Effect and Sensitivity of Temporary Employment

• 영문명: Economic Growth and Employment in the Korean Agri-Food Industry: Examining the Buffering Effect and Sensitivity of Temporary Employment
• 발행기관: 한국유통과학회
• 저자명: Byung Min SOON
• 간행물 정보: 『The Asian Journal of Business Environment(AJBE)』vol.14 no.2, 19~30쪽, 전체 12쪽
• 주제분류: 경제경영 > 경제학
• 파일형태: PDF
• 발행일자: 2024.03.30

영문 초록

Purpose: This research article investigates the intricate relationship between economic growth and employment in the Korean agri-food industry. Research design, data and methodology: Drawing on Okun's law, which proposes a negative correlation between economic growth and unemployment, the study explores the applicability of this law to different sectors. By focusing on the agri-food industry, the study examines the impact of economic growth on both full-time and temporary employment. Results: The findings highlight the industry's role as a buffer, absorbing workers from other sectors, particularly manufacturing. Moreover, the study reveals that temporary employment is more sensitive to economic growth fluctuations compared to full-time employment. Conclusions: The research emphasizes the importance of implementing employment programs that support transitioning workers in the agri-food industry, facilitating knowledge and skill transfer to ensure sustained employment. Furthermore, it recommends government and company support for temporary employment during buffering periods to ensure safe job transitions. This study provides valuable evidence to understand the nuanced relationship between economic growth and employment in the Korean agri-food industry.

목차

1. Introduction

2. Food industry in Korea

3. Method

4. Data

5. Results

6. Conclusion

References

키워드

Agri-Food industry ARDL Buffering effect Economic growth Employment Impulse response function