South Korea Employed Persons - Forecast

Employed Persons in South Korea is expected to be 26980.00 Thousand by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Employed Persons in South Korea to stand at 27500.00 in 12 months time. In the long-term, the South Korea Employed Persons is projected to trend around 28700.00 Thousand in 2020, according to our econometric models.


South Korea Employed Persons
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South Korea Labour Last Q1/18 Q2/18 Q3/18 Q4/18 2020
Unemployment Rate 3.6 3.7 3.7 3.8 3.8 4.1
Employed Persons 26726 26980 27000 26747 27500 28700
Unemployed Persons 1007 1009 1009 1009 1153 1280
Labor Force Participation Rate 62.3 61.5 63.9 60.98 62.9 63
Labour Costs 130 153 135 139 143 151
Productivity 98.5 97.44 97.68 97.23 96.7 97.3
Wages 3575612 3782000 3561000 3692000 3766000 4093000
Wages in Manufacturing 3874983 4247000 3697000 3943000 4146000 4424000
Minimum Wages 7530 7530 7530 7530 7530 8800
Population 50.8 51.2 51.2 51.08 51.2 51.37
Retirement Age Women 60 56 60 55 60 60
Retirement Age Men 60 56 60 55 60 60
Youth Unemployment Rate 9.3 11.1 10.3 8.26 8.7 8.4
Employment Rate 61.3 60.4 61.5 59.59 60.3 60.6