South Korea Labor Force Participation Rate - Forecast

Labor Force Participation Rate in South Korea is expected to be 62.70 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 62.90 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 Q3/18 Q4/18 Q1/19 Q2/19 2020
Unemployment Rate 3.7 3.8 3.8 3.9 3.8 4
Employed Persons 26798 26778 27500 27775 26775 28700
Unemployed Persons 1018 1023 1153 1033 1043 1280
Labor Force Participation Rate 63.8 62.7 62.5 63.1 62.9 63
Labour Costs 146 158 137 153 132 142
Productivity 110 108 109 109 110 112
Wages 3917383 3692000 3766000 3863000 3658000 4093000
Wages in Manufacturing 4562783 3943000 4146000 3987000 4376000 4424000
Minimum Wages 7530 7530 7530 8200 8200 8800
Population 51.45 51.6 51.6 51.8 51.8 52.1
Retirement Age Women 60 60 60 60 60 60
Retirement Age Men 60 60 60 60 60 60
Youth Unemployment Rate 9.1 8.9 8.7 9.1 8.8 8.4
Employment Rate 61.4 61.5 61.3 58.9 60.2 61.5