April 25, 2024
Economy
More singles start own biz amid rising unemployment
[THE INVESTOR] The number of unmarried persons who start their own businesses has risen due to the lack of jobs, according to a report on Dec. 26.
According to the report from Statistics Korea, 12.2 percent of all single men were self-employed as of end-2015.
The figure marked an increase of 4.8 percentage points from 7.4 percent at the end of 2006.
Accordingly, the average ratio of earned income in overall income for single male households dropped to 75 percent from 87.3 percent over the cited period.
The ratio of business income, on the other hand, spiked from 7.8 percent to 18.9 percent.
That of female households also more than doubled from 10.5 percent to 21.9 percent.
“The reason the earned income ratios of both men and women have been lowered appears to be related to a drop in youth employment,” the report said.
(theinvestor@heraldcorp.com)
According to the report from Statistics Korea, 12.2 percent of all single men were self-employed as of end-2015.
The figure marked an increase of 4.8 percentage points from 7.4 percent at the end of 2006.
Accordingly, the average ratio of earned income in overall income for single male households dropped to 75 percent from 87.3 percent over the cited period.
The ratio of business income, on the other hand, spiked from 7.8 percent to 18.9 percent.
That of female households also more than doubled from 10.5 percent to 21.9 percent.
“The reason the earned income ratios of both men and women have been lowered appears to be related to a drop in youth employment,” the report said.
(theinvestor@heraldcorp.com)
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