South Korea: youth unemployment and time-related underemployment rate 2022

In 2022, the combined rate of time-related underemployment and unemployment of people aged 15 to 29 years old in South Korea fell to about 9.1 percent, showing a decrease compared to the previous year. The combined rate of youth unemployment and time-related underemployment has generally increased in recent years.

Combined rate of time-related underemployment and unemployment of people aged 15 to 29 years old in South Korea from 2015 to 2022

Characteristic	Combined rate
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Release date

September 2023

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Region

South Korea

Survey time period

2015 to 2022

Age group

15-29 years

Supplementary notes

The combined rate of time-related underemployment and unemployment is one of the International Labour Organization's labor underutilization indicators (LU2 indicator) and is calculated as [(persons in time-related underemployment + persons in unemployment) / labor force] x 100.

It captures the unemployment situation in a broader way by including people in time-related underemployment, those who worked less than 36 hours per week and wanted or were able to work additional hours.

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