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The impact of Covid-19 on the Korean and US labour markets

Author

Listed:
  • Koangsung Choi
  • Francesco Renna
  • Chung Choe

Abstract

This study compares labour market experiences in South Korea and the US at the outbreak of the pandemic and then again in November 2020. We found that the pandemic had the most considerable effect on the not-at-work rate in South Korea and the unemployment rate in the US. We computed concentration indices to measure inequality in the labour markets using education as a socioeconomic ranking variable. Applying a Recentered Influence Function (RIF) regression, we found that unemployment was more concentrated among less-educated workers in South Korea. Still, the not-at-work rate was more concentrated among highly educated workers. While the ability to work from home played an important role in explaining these inequalities, by November 2020, the Korean labour market showed minimal disparities. In general, US workers with lower education levels experienced higher unemployment and not-at-work rates. The capability to work remotely considerably reduced inequality in April, but it did not in November.

Suggested Citation

  • Koangsung Choi & Francesco Renna & Chung Choe, 2024. "The impact of Covid-19 on the Korean and US labour markets," Applied Economics, Taylor & Francis Journals, vol. 56(38), pages 4529-4543, August.
    • Handle: RePEc:taf:applec:v:56:y:2024:i:38:p:4529-4543
    DOI: 10.1080/00036846.2023.2212966
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