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The Impact of Debt on Job-Search Behavior Among South-Korean Low-Income Youths: Focusing on the Mediating Effect of Self-Esteem

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  • Sangmi Choi
  • Jayoung Cho

Abstract

This study aims to investigate the mediating effect of self-esteem in the path from the burden of debt to job-search behavior among South-Korean low-income youths under a economic recession. Using data from the Second Panel Study on the Participants of the Youth Hope Growing Account (YHGA) program in Korea, this study tested a theoretical model using structural equation modeling (SEM) with maximum likelihood (ML) estimation. The mediation effect was estimated using bootstrapping. The results revealed a significant effect of debt burden on job-search behavior, which was fully mediated by self-esteem. These findings suggest the necessity of providing financial and psychological support for economically disadvantaged youth to facilitate successful entry into the labor market in South Korea.

Suggested Citation

  • Sangmi Choi & Jayoung Cho, 2024. "The Impact of Debt on Job-Search Behavior Among South-Korean Low-Income Youths: Focusing on the Mediating Effect of Self-Esteem," SAGE Open, , vol. 14(2), pages 21582440241, June.
    • Handle: RePEc:sae:sagope:v:14:y:2024:i:2:p:21582440241247891
    DOI: 10.1177/21582440241247891
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    References listed on IDEAS

    as
    1. Ji, Yan, 2021. "Job Search under Debt: Aggregate Implications of Student Loans," Journal of Monetary Economics, Elsevier, vol. 117(C), pages 741-759.
    2. Aisha Sarwar & Usman Maqsood & Bahaudin G. Mujtaba, 2021. "Impact of Job Insecurity due to COVID-19 on the Psychological Wellbeing and Resiliency of Food Delivery Personnel," International Journal of Human Resource Studies, Macrothink Institute, vol. 11(1), pages 2444-2444, December.
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