Combined unemployment and potential labor force rate South Korea 2015-2023

Combined rate of unemployment and potential labor force in South Korea from 2015 to 2023

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Release date

February 2024

Region

South Korea

Survey time period

2015 to 2023

Supplementary notes

The combined rate of unemployment and potential labor force is one of the labor underutilization indicators of the International Labour Organization (LU3 indicator) and is calculated as [(persons in unemployment +potential labor force) / (labor force + potential labor force)] x 100.

It captures the unemployment situation more broadly by including the unemployed who are not covered by the unemployment rate, such as people who wanted employment but have not sought work in the past four weeks.

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