Labor Force Participation Rate in South Korea decreased to 62.40 percent in August from 63.10 percent in July of 2020.

Labor Force Participation Rate in South Korea averaged 61 percent from 1982 until 2020, reaching an all time high of 64.20 percent in June of 2019 and a record low of 48.50 percent in January of 1984. This page provides - South Korea Labor Force Participation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. South Korea Labor Force Participation Rate - values, historical data and charts - was last updated on September of 2020. source: Statistics Korea

Labor Force Participation Rate in South Korea is expected to be 64.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Labor Force Participation Rate in South Korea to stand at 63.00 in 12 months time. In the long-term, the South Korea Labor Force Participation Rate is projected to trend around 63.00 percent in 2021, according to our econometric models.

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South Korea Labor Force Participation Rate

Actual Previous Highest Lowest Dates Unit Frequency
62.40 63.10 64.20 48.50 1982 - 2020 percent Monthly
NSA

South Korea Labour Last Previous Highest Lowest Unit
Unemployment Rate 3.20 4.20 7.10 3.00 percent [+]
Employed Persons 26922.00 26808.00 27522.00 20268.00 Thousand [+]
Unemployed Persons 891.00 1179.00 1546.00 690.00 Thousand [+]
Labor Force Participation Rate 62.40 63.10 64.20 48.50 percent [+]
Labour Costs 119.30 101.50 129.90 69.00 points [+]
Productivity 109.10 115.80 115.80 53.50 points [+]
Wages 3615931.00 4003335.00 4021244.00 2460239.00 KRW/Month [+]
Wages in Manufacturing 3803701.00 4432727.00 4654149.00 2520139.00 KRW/Month [+]
Minimum Wages 8590.00 8350.00 8590.00 600.00 KRW/Hour [+]
Population 51.71 51.61 51.71 25.01 Million [+]
Retirement Age Women 60.00 60.00 60.00 55.00 [+]
Retirement Age Men 60.00 60.00 60.00 55.00 [+]
Youth Unemployment Rate 7.70 9.70 13.40 3.80 percent [+]
Employment Rate 60.40 60.20 61.70 56.10 percent [+]


South Korea Labor Force Participation Rate
The labour force participation rates is the number of persons who are employed and unemployed but looking for a job divided by the total working-age population.