BUSINESS

7 out of 10 part-time workers worry about tough job market amid minimum wage hike

By Yonhap
  • Published : Jan 2, 2018 - 09:51
  • Updated : Jan 2, 2018 - 09:51

More than 70 percent of part-time laborers are worried about changes in work circumstances due to this year's rise in the minimum wage, a portal survey showed Tuesday.

According to the survey conducted by the website operated by Mediawill Networks, 72 percent of respondents said they are worried about facing changes in the job market with the hike in the minimum hourly wage. The poll was conducted from Dec. 21-29 on 1,458 of its members.

The number of people worried about finding new jobs was the largest at 33.3 percent, followed by workers fearing layoffs at 20.2 percent and higher work demand at 16.9 percent. 

(Yonhap)

Another 25.9 percent of all respondents said they have actually experienced layoffs or were told to work less after the wage hike decision was announced in July last year, according to the survey.

South Korea increased its minimum wage by 16 percent to 7,530 won ($6.60) this year, marking the biggest jump in about two decades.

Although the minimum wage hike is one of the government's strategies to boost private consumption and narrow the income gap, small and medium-sized businesses expressed concerns about higher labor costs. (Yonhap)



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