LU2: Combined rate of time-related underemployment and unemployment in South Korea
South Korea: LU2: Combined rate of time-related underemployment and unemployment was 5.5 in 2027. ▲ Rising
LU2: Combined rate of time-related underemployment and unemployment in South Korea, 2005–2027
Source: International Labour Organization.
Analysis
South Korea recorded 5.5 for lu2: combined rate of time-related underemployment and unemployment in 2027.
The figure is up 2.8% on the previous year and down 2.7% over ten years.
Over the whole period, lu2: combined rate of time-related underemployment and unemployment in South Korea peaked at 7.71 in 2020 and was at its lowest, 3.26, in 2012.
South Korea ranks 153rd of 188 countries on this measure, in the bottom quarter.
The long-run direction has been consistently rising across the 23 years of available data.
LU2: Combined rate of time-related underemployment and unemployment in South Korea, year by year
| Year | Value | Change |
|---|---|---|
| 2005 | 3.83 | — |
| 2006 | 3.64 | -5.0% |
| 2007 | 3.44 | -5.5% |
| 2008 | 3.38 | -1.7% |
| 2009 | 3.7 | +9.4% |
| 2010 | 3.67 | -0.8% |
| 2011 | 3.4 | -7.2% |
| 2012 | 3.26 | -4.1% |
| 2013 | 3.5 | +7.2% |
| 2014 | 4.11 | +17.4% |
| 2015 | 5.34 | +29.9% |
| 2016 | 5.46 | +2.3% |
| 2017 | 5.66 | +3.6% |
| 2018 | 6.02 | +6.4% |
| 2019 | 6.34 | +5.4% |
| 2020 | 7.71 | +21.4% |
| 2021 | 7.29 | -5.3% |
| 2022 | 5.65 | -22.5% |
| 2023 | 5.13 | -9.2% |
| 2024 | 5.33 | +3.9% |
| 2025 | 5.23 | -1.9% |
| 2026 | 5.35 | +2.3% |
| 2027 | 5.5 | +2.8% |
South Korea compared with similar countries
- South Korea's 5.5 is below the median for high income countries, which is 8.6, 64% of the median. (62 countries reporting)
- South Korea's 5.5 is below the median for East Asia & Pacific, which is 5.83, 94% of the median. (29 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 3.6 | 3.38 | 3.83 | 5 |
| 2010s | 4.68 | 3.26 | 6.34 | 10 |
| 2020s | 5.9 | 5.13 | 7.71 | 8 |
Countries ranked near South Korea
More work & labour data for South Korea
- Persons outside the labour force (ILO modelled estimates) 16,840 (2027)
- Labour force participation rate (ILO modelled estimates) 63.91 (2027)
- Labour force (ILO modelled estimates) 29,824 (2027)
- Unemployment rate (ILO modelled estimates) 2.96 (2027)
- Labour dependency ratio 0.78 (2027)
- Output per worker, GDP constant 2021 international $ at PPP 97,052 (2027)
- Output per worker, GDP constant 2015 US $ 65,686 (2027)
- Employment-to-population ratio (ILO modelled estimates) 62.02 (2027)
- Persons outside the labour force (ILO modelled estimates) (15+) 0.9719 % change on previous year (2027)
- Labour force (ILO modelled estimates) (15+), annual growth rate -0.1065 % change on previous year (2027)
Frequently asked questions
- What is lu2: combined rate of time-related underemployment and unemployment in South Korea?
- Lu2: combined rate of time-related underemployment and unemployment in South Korea was 5.5 in 2027, according to International Labour Organization.
- What is the highest lu2: combined rate of time-related underemployment and unemployment recorded in South Korea?
- The highest recorded value was 7.71 in 2020.
- What is the lowest lu2: combined rate of time-related underemployment and unemployment recorded in South Korea?
- The lowest recorded value was 3.26 in 2012.
- How does South Korea rank for lu2: combined rate of time-related underemployment and unemployment?
- South Korea ranks 153rd out of 188 countries with data for 2027.
- Is lu2: combined rate of time-related underemployment and unemployment rising or falling in South Korea?
- Over the last ten years it is down 2.7%. The long-run trend across the full record is rising.
- Where does this South Korea data come from?
- The figures come from International Labour Organization, published as part of LU2: Combined rate of time-related underemployment and unemployment (ILO modelled estimates) (15+). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 23 observations, free to reuse under ILO Terms of Use (attribution required).
About this data
Imputed observations are not based on national data, are subject to high uncertainty and should not be used for country comparisons or rankings. This series is based on the 13th ICLS definitions. LU2 represents the share of the labour force that are either in unemployment or time-related underemployment. For more information, refer to the ILO Modelled Estimates (ILOEST) database description.