In 2020, the combined rate of unemployment and potential labor force in South Korea reached about ten percent, an increase from the previous year. The combined unemployment and potential labor force rate in South Korea that year showed the highest increase since 2015.
Combined rate of unemployment and potential labor force in South Korea from 2015 to 2020
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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KOSIS. (April 14, 2021). Combined rate of unemployment and potential labor force in South Korea from 2015 to 2020 [Graph]. In Statista. Retrieved January 22, 2022, from https://www.statista.com/statistics/1233367/south-korea-combined-rate-of-unemployment-and-potential-labor-force/
KOSIS. "Combined rate of unemployment and potential labor force in South Korea from 2015 to 2020." Chart. April 14, 2021. Statista. Accessed January 22, 2022. https://www.statista.com/statistics/1233367/south-korea-combined-rate-of-unemployment-and-potential-labor-force/
KOSIS. (2021). Combined rate of unemployment and potential labor force in South Korea from 2015 to 2020. Statista. Statista Inc.. Accessed: January 22, 2022. https://www.statista.com/statistics/1233367/south-korea-combined-rate-of-unemployment-and-potential-labor-force/
KOSIS. "Combined Rate of Unemployment and Potential Labor Force in South Korea from 2015 to 2020." Statista, Statista Inc., 14 Apr 2021, https://www.statista.com/statistics/1233367/south-korea-combined-rate-of-unemployment-and-potential-labor-force/
KOSIS, Combined rate of unemployment and potential labor force in South Korea from 2015 to 2020 Statista, https://www.statista.com/statistics/1233367/south-korea-combined-rate-of-unemployment-and-potential-labor-force/ (last visited January 22, 2022)
