In 2023, the combined unemployment rate and potential labor force in South Korea decreased to approximately 6.6 percent. This figure represented the lowest recorded rate in the country over the past nine years.
Combined rate of unemployment and potential labor force in South Korea from 2015 to 2023
The combined rate of unemployment and potential labor force is one of the labor underutilization indicators of the International Labour Organization (LU3 indicator) and is calculated as [(persons in unemployment +potential labor force) / (labor force + potential labor force)] x 100.
It captures the unemployment situation more broadly by including the unemployed who are not covered by the unemployment rate, such as people who wanted employment but have not sought work in the past four weeks.
Profit from the additional features of your individual account
Currently, you are using a shared account. To use individual functions (e.g., mark statistics as favourites, set
statistic alerts) please log in with your personal account.
If you are an admin, please authenticate by logging in again.
Learn more about how Statista can support your business.
KOSIS. (May 17, 2024). Combined rate of unemployment and potential labor force in South Korea from 2015 to 2023 [Graph]. In Statista. Retrieved November 10, 2024, from https://www-statista-com.ezproxy.canberra.edu.au/statistics/1233367/south-korea-combined-rate-of-unemployment-and-potential-labor-force/
KOSIS. "Combined rate of unemployment and potential labor force in South Korea from 2015 to 2023." Chart. May 17, 2024. Statista. Accessed November 10, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/1233367/south-korea-combined-rate-of-unemployment-and-potential-labor-force/
KOSIS. (2024). Combined rate of unemployment and potential labor force in South Korea from 2015 to 2023. Statista. Statista Inc.. Accessed: November 10, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/1233367/south-korea-combined-rate-of-unemployment-and-potential-labor-force/
KOSIS. "Combined Rate of Unemployment and Potential Labor Force in South Korea from 2015 to 2023." Statista, Statista Inc., 17 May 2024, https://www-statista-com.ezproxy.canberra.edu.au/statistics/1233367/south-korea-combined-rate-of-unemployment-and-potential-labor-force/
KOSIS, Combined rate of unemployment and potential labor force in South Korea from 2015 to 2023 Statista, https://www-statista-com.ezproxy.canberra.edu.au/statistics/1233367/south-korea-combined-rate-of-unemployment-and-potential-labor-force/ (last visited November 10, 2024)
Combined rate of unemployment and potential labor force in South Korea from 2015 to 2023 [Graph], KOSIS, May 17, 2024. [Online]. Available: https://www-statista-com.ezproxy.canberra.edu.au/statistics/1233367/south-korea-combined-rate-of-unemployment-and-potential-labor-force/
