South Korea Labor Force Participation Rate  Forecast


Labor Force Participation Rate in South Korea is expected to be 63.70 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 63.90 in 12 months time. In the long-term, the South Korea Labor Force Participation Rate is projected to trend around 63.00 percent in 2020, according to our econometric models.


South Korea Labor Force Participation Rate
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South Korea Labour Last Q3/17 Q4/17 Q1/18 Q2/18 2020
Unemployment Rate 3.8 3.9 3.6 3.8 3.7 4.1
Employed Persons 26553 26771 26900 26980 27000 28700
Unemployed Persons 1043 1110 1101 996 997 1280
Labor Force Participation Rate 63.3 63.7 62.8 61.5 63.9 63
Labour Costs 148 142 139 153 135 151
Productivity 97.6 95.2 97 97.73 98.1 97.3
Wages 3332086 3597462 3621741 3782260 3782260 4093364
Wages in Manufacturing 3589196 3842926 4006388 4247382 3697952 4424766
Minimum Wages 6470 6470 6470 6700 6700 7100
Population 50.8 51 51 51.2 51.2 51.59
Retirement Age Women 60 60 60 58.75 60 60
Retirement Age Men 60 60 60 58.75 60 60
Youth Unemployment Rate 9.4 9.7 8.5 11.1 10.3 8.4
Employment Rate 61.5 61.2 60.3 60.4 61.5 60.6