South Korea Unemployed Persons  Forecast


Unemployed Persons in South Korea is expected to be 1101.00 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 1029.32 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 Q4/17 Q1/18 Q2/18 Q3/18 2020
Unemployment Rate 3.7 3.6 3.8 3.7 3.8 4.1
Employed Persons 26553 26900 26980 27000 26552 28700
Unemployed Persons 1043 1101 1031 1030 1029 1280
Labor Force Participation Rate 63.3 62.8 61.5 63.9 60.99 63
Labour Costs 148 139 153 135 139 151
Productivity 97.6 97 97 97.13 96.78 97.3
Wages 3332086 3621741 3782260 3561540 3692920 4093364
Wages in Manufacturing 3589196 4006388 4247382 3697952 3943470 4424766
Minimum Wages 6470 6470 6700 6700 6700 7100
Population 50.8 51 51.2 51.2 51.08 51.37
Retirement Age Women 60 60 55.38 60 55.1 60
Retirement Age Men 60 60 55.38 60 55.1 60
Youth Unemployment Rate 9.4 8.5 11.1 10.3 7.98 8.4
Employment Rate 61.5 60.3 60.4 61.5 59.58 60.6