LU3: Combined rate of unemployment and potential labour force in South Korea
South Korea: LU3: Combined rate of unemployment and potential labour force was 4.84 in 2019. ▲ Rising
LU3: Combined rate of unemployment and potential labour force in South Korea, 2000–2019
Source: International Labour Organization.
Analysis
In 2019, lu3: combined rate of unemployment and potential labour force in South Korea stood at 4.84. That is the highest value across all 15 years on record.
The figure is up 31.4% over ten years.
Over the whole period, lu3: combined rate of unemployment and potential labour force in South Korea peaked at 4.84 in 2019 and was at its lowest, 3.15, in 2008.
That places South Korea 74th out of 89 countries with data for 2019, putting it in the bottom quarter.
The long-run direction has been consistently rising across the 15 years of available data.
LU3: Combined rate of unemployment and potential labour force in South Korea, year by year
| Year | Value | Change |
|---|---|---|
| 2000 | 4.42 | — |
| 2001 | 4 | -9.4% |
| 2002 | 3.27 | -18.2% |
| 2003 | 3.57 | +9.1% |
| 2004 | 3.66 | +2.4% |
| 2005 | 3.77 | +3.1% |
| 2006 | 3.53 | -6.4% |
| 2007 | 3.28 | -7.1% |
| 2008 | 3.15 | -3.8% |
| 2009 | 3.68 | +16.8% |
| 2010 | 3.77 | +2.3% |
| 2011 | 3.48 | -7.6% |
| 2012 | 3.28 | -5.7% |
| 2014 | 3.52 | +7.2% |
| 2019 | 4.84 | +37.6% |
South Korea compared with similar countries
- South Korea's 4.84 is below the median for high income countries, which is 7.45, 65% of the median. (46 countries reporting)
- South Korea's 4.84 is above the median for East Asia & Pacific, which is 4.84, 1.0× the median. (11 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 3.63 | 3.15 | 4.42 | 10 |
| 2010s | 3.78 | 3.28 | 4.84 | 5 |
Countries ranked near South Korea
- 71 Slovenia 5.13 compare
- 72 Philippines 4.85 compare
- 73 Cote d'Ivoire 4.84 compare
- 75 Cambodia 4.65 compare
- 76 Seychelles 4.56 compare
- 77 Belarus 4.38
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 lu3: combined rate of unemployment and potential labour force in South Korea?
- Lu3: combined rate of unemployment and potential labour force in South Korea was 4.84 in 2019, according to International Labour Organization.
- What is the highest lu3: combined rate of unemployment and potential labour force recorded in South Korea?
- The highest recorded value was 4.84 in 2019.
- What is the lowest lu3: combined rate of unemployment and potential labour force recorded in South Korea?
- The lowest recorded value was 3.15 in 2008.
- How does South Korea rank for lu3: combined rate of unemployment and potential labour force?
- South Korea ranks 74th out of 89 countries with data for 2019.
- Is lu3: combined rate of unemployment and potential labour force rising or falling in South Korea?
- Over the last ten years it is up 31.4%. 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 LU3: Combined rate of unemployment and potential labour force (previous ILO definition - ICLS13) (15+). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 15 observations, free to reuse under ILO Terms of Use (attribution required).
About this data
With the aim of promoting international comparability, statistics presented on ILOSTAT are based on standard international definitions wherever feasible and may differ from official national figures. This series is based on the 13th ICLS definitions. For time series comparability, it includes countries that have implemented the 19th ICLS standards, for which data are also available in the Work Statistics -- 19th ICLS (WORK) database. LU3 represents the share of the extended labour force that are in unemployment or the potential labour force. Data disaggregated by level of education are provided on the highest level of education completed, classified according to the International Standard Classification of Education (ISCED). Data may have been regrouped from national classifications, which may not be strictly compatible with ISCED. For more information, refer to the Education and Mismatch Indicators (EMI) database description.