South Korea Unemployed Persons - Forecast

Unemployed Persons in South Korea is expected to be 1008.22 Thousand by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Unemployed Persons in South Korea to stand at 1153.00 in 12 months time. In the long-term, the South Korea Unemployed Persons is projected to trend around 1280.00 Thousand in 2020, according to our econometric models.


South Korea Unemployed 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 26922 26980 27000 27005 27500 28700
Unemployed Persons 1009 1008 1008 1008 1153 1280
Labor Force Participation Rate 61.8 61.5 63.9 61.05 62.9 63
Labour Costs 146 153 135 144 143 151
Productivity 93.2 92.35 94.1 92.74 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 8.6 11.1 10.3 7.81 8.7 8.4
Employment Rate 60.2 60.4 61.5 59.42 60.3 60.6