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KMID : 1001320210480040137
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Social Welfare Policy
2021 Volume.48 No. 4 p.137 ~ p.160
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Analysis of Labor Markets Transition by Student Loan
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Lee Yong-Ho
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Abstract
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The purpose of this study is to empirically how the performance of the labor market outcomes changes according to the student loans of youth. Korean youth choose student loans to alleviate the burden of high university tuition. However, this leads to a burden of repayment, making it possible to obtain low-wage, temporary job, which are relatively easy to find after graduation. It is inferred that these jobs are highly likely to be maintained continuously rather than being limited in the initial stage. Therefore, this study aims to identify the movement between the labor markets due to student loans by dividing the labor market performance into primary and secondary labor markets based on wage level and job stability.
This study used from the 8th(2014)-13th(2019) of the Youth Panel(YP). For the sample, an recurrent event data of 1,316 people was constructed based on college graduates who had at least one job during the survey period. As the analysis method, Recurring Event Survival Analysis, which is useful for analyzing the probability of recurring events, was used.
As a result of the analysis, youth with student loans are more likely to have their first job in the secondary labor market. Also, the higher the student loan amount, the higher the probability of staying in the secondary labor market.
Based on these results, improvement measures were suggested to alleviate the burden of student loan burden on youth.
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KEYWORD
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Youth, Student laon, Labor makrets, Recurring Event Survival Analysis
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