Youth Labor Market Analysis through intangible demand analysis of firms and applicants

This study explored youth labor market by intangible demand analysis from firms and applicants. The employment problems, especially for young generation, would be serious issues in the labor market since they would be related to over-education, loss of social capital, and skill discontinuity. The previous labor economic studies focused on tangible mismatch such as mismatch of information, skill, and income. However, this approach could not reflect the variety of companies in the labor market. To overcome this limitation of tangible labor market mismatch approach, marketing or human resource management approach based on internal and behavioral variables would be needed. The youth labor market of Korea has some unique characteristics compared to other developed countries like OECD countries. The Korean young generation has low employment, but it also has low employment rate too. This ostensibly conflicting labor market features would resulting from the late labor market entry of Korean young generation. The features and causes of NEET were also analyzed. The previous research on organizational culture produced some research outcomes from some researchers such as Schein, Trompenaars, and Quinn. The competing value model proposed by Cameron & Quinn was frequently utilized to analyze the effect of organizational culture on various firm practices like human resource management practices. They made typology of organizational culture such as relationship culture, innovation culture, market culture, and hierarchy culture. To analyze demand of applicants, studies on the relationship between some variables like job value, career self-efficacy, personality and job search behaviors as well as studies on tangible labor market factors were reviewed and utilized to form the research framework of this study. In addition, studies on the fit between person and organizations such as the effect of person-organization fit on attraction, job offer acceptance, satisfaction, commitment, organizational citizenship behavior, and performance were also reviewed and utilized. ..