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KMID : 1124020170330020103
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Korean Social Security Studies
2017 Volume.33 No. 2 p.103 ~ p.128
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A Study on the change of influence factors of youth poverty in post-industrialization era - Focused on the comparison between 1999 and 2014 -
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Lee Jin-Kook
Choi In-Duck
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Abstract
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This study seeks to provide a basic set of data for establishing policies to tackle poverty among the youth by using the data from the second Korean Labor Panel (using 1999 income data), the 17th Panel data(using2014data) to understand changes in the factors affecting poverty among the youth in a post-industrial society. The findings were as follows: First, compared to the past, the degree of influence of educational background on the risk of poverty decreased. This shows that poverty theory from an individualistic perspective, such as human capital theory has its limits in explaining poverty among youth in the contemporary era. Second, with the new characteristics in a post-industrial society`s labor market, poverty was often found when one was jobless in the past. But recently, unlike in the past, being a temporary/day worker had a positive effect on the risk of poverty. This indicates that the spread of low quality employment in the service sector affects youth poverty. That is, youth poverty was possible to be explained from an individualistic perspective in the past but in a post-industrial labor market, the influencing factor has changed to an increase in unstable jobs. As such, for successful financial independence of the youth, a financial buffer is needed for the youth to protect them from job loss or instability in employment. More youth should be made eligible for unemployment benefits, the ratio of unemployment benefits funded through salaries must be increased, salary replacement ratios must be increased and basic income should be provided to the youth through policy interventions.
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KEYWORD
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youth poverty, post-industrial society`s labor market, youth working poor, unemployment insurance, basic income
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