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Best Practices of Youth Employment Policies in Selected APEC Economies Best Practices of Youth Employment Policies in Selected APEC Economies APEC Human Resource Development Working Group October 2018 Best Practices of Youth Employment Policies in Selected APEC Economies APEC Human Resource Development Working Group October 2018 APEC Project: HRD 04 2017 Produced by Yoo Kil-sang, Cho Jeongyoon, Park Jinhee, Oh Haksoo, Le Thi Thao Human Resources Development Service of Korea For Asia-Pacific Economic Cooperation Secretariat 35 Heng Mui Keng Terrace Singapore 119616 Tel: (65) 68919 600 Fax: (65) 68919 690 Email: [email protected] Website: www.apec.org © 2018 APEC Secretariat APEC#219-SM-01.1 Best Practices of Youth Employment Policies in Selected APEC Economies | i TABLE OF CONTENTS TABLE OF CONTENTS ........................................................................................................... i LIST OF FIGURES ................................................................................................................. iii LIST OF TABLES ................................................................................................................... iv INTRODUCTION .....................................................................................................................v EXECUTIVE SUMMARY .................................................................................................... vii CHAPTER 1. CASE STUDY OF KOREA ............................................................................1 1.1 Introduction .................................................................................................1 1.2 Statistics Analysis on Youth Employment .................................................2 1.2.1 Korean Youth Employment Trend ....................................................2 1.2.2 Emergence and Persistence of Youth Unemployment after Two Economic Crises .......................................................................3 1.2.3 Major Characteristics of Recent Youth Labor Market in Korea .................................................................................................6 1.3 Literature Review on Youth Employment Related Policies .....................13 1.3.1 OECD Job Strategy to Facilitate Youth Employment ....................13 1.3.2 Recommendations of OECD for Youth Employment Policies in Korea .............................................................................14 1.3.3 The Effectiveness of Labor Market Policies ...................................15 1.4 Issues on Youth Employment Policies in Korea ......................................17 1.4.1 Evolution of Youth Employment Policy in Korea along with Economic Development ..................................................................17 1.4.2 Diagnosis of Reasons for Youth Employment Problem and Policy Measures ..............................................................................20 1.4.3 Macroeconomic Policy and Youth Unemployment ........................23 1.4.4 Structural Reform of Labor Market and Youth Employment .........26 1.5 Best Practices of Youth Employment Programs in Korea ........................26 1.5.1 Employment Insurance System .......................................................26 1.5.2 Domestic Employment Portal: Work-Net .......................................27 1.5.3 Employment-Welfare Plus Centers .................................................29 1.5.4 Employment Success Package Program .........................................30 1.5.5 Korea Job World .............................................................................32 1.5.6 National Technical Qualification System .......................................33 1.5.7 Korean Apprenticeship....................................................................35 1.5.8 Nurturing Convergence Human Resources at Convergence Technology Campus of Korea Polytechnic.....................................36 1.6 Conclusion ................................................................................................37 CHAPTER 2. CASE STUDY OF JAPAN ...........................................................................39 2.1 Introduction ...............................................................................................39 2.2 Statistics Analysis and literature review on youth employment ...............39 2.2.1 Changes in the Economically Active Population of Young People ..............................................................................................39 2.2.2 Changes in the Unemployment Rate and Unofficially Hired Rate of Young People .....................................................................41 Best Practices of Youth Employment Policies in Selected APEC Economies | ii 2.2.3 Trend of Temporary Workers in the Younger Generation and Wage Gap with Regular Workers ............................................42 2.3 Issues of youth employment and best practices of youth employment policies .................................................................................48 2.4 Conclusion ................................................................................................51 CHAPTER 3. CASE STUDY OF SINGAPORE .................................................................53 3.1 Introduction ...............................................................................................53 3.2 Statistical Analysis on Youth Employment ..............................................54 3.2.1 Overall Situation of Labor Market in Singapore.............................54 3.2.2 The trend of Youth’s High Qualification Acquisition and Unemployment ................................................................................57 3.3 Literature Review on Youth Employment-Related Policies ....................59 3.4 Issues on Youth Employment Policies .....................................................61 3.4.1 Skills at Workplace to Harmonize with Changes are More Important than Academic Degrees ..................................................61 3.4.2 Limited Engagement to SkillsFuture Initiatives .............................62 3.4.3 Development of New Evaluation Metrics of SkillsFuture Effectiveness ...................................................................................63 3.5 Best Practices of Youth Employment Programs ......................................63 3.5.1 Close Cooperation between the Ministry of Manpower and Ministry of Education .....................................................................64 3.5.2 Skills Framework ............................................................................66 3.5.3 Workforce Skills Qualification (WSQ) ...........................................66 3.5.4 SkillsFuture Credit ..........................................................................68 3.5.5 Enhanced Internships ......................................................................69 3.5.6 SkillsFuture Work-Study Degree Program .....................................69 3.5.7 SkillsFuture Earn and Learn Program .............................................70 3.6 Conclusion ................................................................................................71 CHAPTER 4. CASE STUDY OF VIET NAM ....................................................................73 4.1 Introduction ...............................................................................................73 4.2 Statistical Analysis on Youth Employment ..............................................73 4.2.1 Characteristics of Youth Labor Market in Viet Nam ......................73 4.2.2 The trend of Youth Employment in Viet Nam................................75 4.3 Literature Review on Youth Employment ................................................77 4.3.1 Views and Recommendations on Viet Nam's Youth Employment of OECD, ILO and Other International Organizations ..................................................................................77 4.3.2 Domestic or International Research Review on the Effect of Viet Nam's Youth Employment Policies ........................................79 4.4 Issues of Viet Nam Youth Employment ...................................................79 4.4.1 Limited Quality of Youth Labor Force ...........................................79 4.4.2 Low Employment Quality and Labor Productivity Remain Great Challenges in the Context of International Competition and Integration ...........................................................80 4.4.3 Limited Policies for Young Worker in Remote Areas and Migrant Youths ...............................................................................82 4.5 Best Practices of Viet Nam Youth Employment Policies ........................82 Best Practices of Youth Employment Policies in Selected APEC Economies | iii 4.5.1 Program of Providing Loans for Employment Creation from the National Employment Fund ......................................................82 4.5.2 Program to Support Youth in Vocational Training and Entrepreneurship 2008-2015 ...........................................................84 4.5.3 Project on Supporting Labor Market Development ........................85 4.6 Conclusion ................................................................................................86 CHAPTER 5. GENERAL REVIEW, IMPLICATIONS AND CONCLUSION .................88 5.1 General Review ........................................................................................88 5.1.1 Youth Employment in Four Economies ..........................................88 5.1.2 Similarities and Differences in Youth
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