Sound health management and supportive policies helped Korea emerge swiftly from the pandemic. The recovery is set to continue as pandemic-era restrictions on contact-intensive services are shelved, despite the Russia-Ukraine war raising inflation and highlighting the need to increase supply chain resilience.

Interestingly, even LOAs due to financial difficulties have a positive impact on female employment status. Given that South Korea has high barriers to labor market participation for women in South Korea, a college LOA contributes to a reduction in temporary female workers, indicating that more women are participating in the labor market with stable employment status.

Abstract: The current study seeks to expand our knowledge on extended education and its potential contribution to social inequality by examining socioeconomic disparities in supplementary education (SE) at college and its impact on labor market outcomes. Using data from the United States Education Longitudinal Study, logistic and linear regressions deliver the following main findings: (1) Socioeconomic status (SES) significantly affects SE participation, net of other factors. (2) With higher involvement in SE activities, neither employment nor income prospects significantly increase. (3) Low SES graduates are slightly more likely to benefit from SE than high SES graduates. (4) Among high-impact SE practices, only internships exert a positive effect on labor market outcomes. (DIPF/Orig.)

An important goal of community colleges is to prepare students for the labor market. But are students aware of the labor market outcomes in different majors? And how much do students weigh labor market outcomes when choosing a major? In this study we find that less than 40% of a sample of community college students in California rank broad categories of majors accurately in terms of labor market outcomes. However, students believe that salaries are 13 percent higher than they actually are, on average, and students underestimate the probability of being employed by almost 25 percent. We find that the main determinants of major choice are beliefs about course enjoyment and grades, but expected labor market outcomes also matter. Experimental estimates of the impact of expected labor market outcomes are larger than OLS estimates and show that a 1% increase in salary is associated with a 1.4 to 1.8% increase in the probability of choosing a specific category of majors.