well as unemployment of younger people. Given that long-term trend of labor demand is highly unpredictable, it is difficult …

mean duration of unemployment could decrease if an implicit income of unemployment declines or a rate of job offer rises … because a policy to lower an implicit income of unemployment may not secure policy target efficiency …

, but not in unemployment rates. We attribute such inconsistency to persons marginally attached to the labor force and … persons employed part time for economic reasons. Therefore, we construct extended measures for unemployment from 2003 to 2013 … that the alternative measures of unemployment rates support the existence of hysteresis in the Korean labor market, which …