Job growth has drastically fallen from around 300,000 per month early in the year to 110,000 for the past three months and 70,000 for May.
Could it be businesses are cutting back on jobs and investment, in retaliation for increasing the minimum wage to around $7 and other liberal policies?
Xinhuanet: S.Korea faces employment shock as job increase hits 8-year low
The economy is strong. Third month of record trade surpluses. Financial companies doing great due to increased interest rates. Something seem wrong?
On the news today, most of the media are reporting on the low job rate and ever increasing gap between the rich and poor. They are implying that President Moon's administration is to blame.
The ones to blame are the conservative administrations of the imprisoned former presidents Lee and Park, along with the conservative party. Disrupting unions. Decreasing tax on the rich. Stopping regulation of unfair business practices, such as raising rent by 1000% after 5 years. Ending loopholes that the rich use to pay no taxes in transferring wealth to their offspring. Almost all of the major Korean companies passed on control to the founder's children without paying any inheritance taxes.
If the world stopped buying Korean products, it wouldn't hurt me. Might hurt the rich much more than the poor.
