Yoo Seung-min "Quality of Employment Has Significantly Worsened" vs Lee Jae-myung "Doubt Economic Experts"

Yoo Seung-min, Chairman of the Conservative Reconstruction Committee, is speaking at the party leadership meeting held at the National Assembly Members' Office Building in Yeouido, Seoul, last February. Photo by Yonhap News

[Asia Economy Reporter Kim Young-eun] Former People Power Party lawmaker Yoo Seung-min and Gyeonggi Province Governor Lee Jae-myung engaged in a policy debate over job issues.

The debate between former lawmaker Yoo and Governor Lee began when Yoo posted on his Facebook on the 19th, saying, "Does the president even understand the severity of the economic crisis? President Moon Jae-in says 'now is the golden time for economic rebound,' but judging by the president's perception, he is a 'president who has given up on the economy.'"

On that day, Yoo stated, "Looking at the September employment statistics, the number of employed people decreased by 392,000, the expanded unemployment rate among youth was 25.4%, unemployment increased across all age groups, and the economically inactive population grew to an all-time high. The job situation is the most severe since the IMF crisis, and employment is collapsing overall. Without any fundamental measures to solve the job problems of young people in their 20s and 30s, only public jobs that manipulate employment statistics by pouring in taxes are increasing," he criticized.

Gyeonggi Province Governor Lee Jae-myung is attending and speaking at the 'Democratic Party-Gyeonggi Province Budget Policy Council' held at the National Assembly in Yeouido, Seoul, last July. Photo by Yonhap News

In response, Governor Lee criticized on his Facebook on the 21st, saying, "Former lawmaker Yoo is misleading the public by repeating fake news that conservative media have been spreading to the extent that it makes us doubt his status as an economic expert. The weak logic behind attacking the president is merely a political trick to secure his position within the People Power Party, which wise citizens are well aware of."

He further explained, "From 2016 to 2019, the employment rate of the population aged 15 and over improved from 60.6% to 60.9%, the employment rate of the economically active population aged 15 to 64 also improved from 66.1% to 66.8%, especially the youth employment rate improved from 41.7% to 43.5%, and the youth unemployment rate decreased from 9.8% to 8.9%."

Then, on the 25th, former lawmaker Yoo rebutted again. He wrote on Facebook, "(Applying OECD statistical methods) even comparing 2016 and 2019, which Governor Lee examined, the number of FTE employed persons decreased by 1.12 million," and added, "What this means is that both the quantity and quality of employment have significantly worsened. There is ample evidence that the Moon Jae-in administration inflated employment statistics by massively increasing short-term jobs with taxpayers' money."

Additionally, Yoo emphasized, "To resolve low birth rates and polarization, we must return to the path of economic growth through reforms," and said, "Instead of pushing smart young people toward civil service exams, we need an educational revolution to nurture one million innovative talents. The labor market should be made more flexible based on the principle of flexible stability, and labor reforms guaranteeing a safety net for the unemployed must be implemented in practice." He also pointed out, "The Park Geun-hye administration at least attempted labor reforms, but the Moon Jae-in administration has not even tried due to union considerations."

This content was produced with the assistance of AI translation services.