In 2023, the combined unemployment and potential labor force rate of people aged 15 to 29 in South Korea stood at about 13.9 percent, showing a decrease from the previous year. The combined unemployment and potential labor force rate of the youth population in South Korea has been decreasing in recent years.
Combined rate of unemployment and potential labor force of people aged 15 to 29 years old in South Korea from 2015 to 2023
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. (May 17, 2024). Combined rate of unemployment and potential labor force of people aged 15 to 29 years old in South Korea from 2015 to 2023 [Graph]. In Statista. Retrieved November 01, 2024, from https://www.statista.com/statistics/1233713/south-korea-youth-unemployment-and-potential-labor-force-rate/
KOSIS. "Combined rate of unemployment and potential labor force of people aged 15 to 29 years old in South Korea from 2015 to 2023." Chart. May 17, 2024. Statista. Accessed November 01, 2024. https://www.statista.com/statistics/1233713/south-korea-youth-unemployment-and-potential-labor-force-rate/
KOSIS. (2024). Combined rate of unemployment and potential labor force of people aged 15 to 29 years old in South Korea from 2015 to 2023. Statista. Statista Inc.. Accessed: November 01, 2024. https://www.statista.com/statistics/1233713/south-korea-youth-unemployment-and-potential-labor-force-rate/
KOSIS. "Combined Rate of Unemployment and Potential Labor Force of People Aged 15 to 29 Years Old in South Korea from 2015 to 2023." Statista, Statista Inc., 17 May 2024, https://www.statista.com/statistics/1233713/south-korea-youth-unemployment-and-potential-labor-force-rate/
KOSIS, Combined rate of unemployment and potential labor force of people aged 15 to 29 years old in South Korea from 2015 to 2023 Statista, https://www.statista.com/statistics/1233713/south-korea-youth-unemployment-and-potential-labor-force-rate/ (last visited November 01, 2024)
Combined rate of unemployment and potential labor force of people aged 15 to 29 years old in South Korea from 2015 to 2023 [Graph], KOSIS, May 17, 2024. [Online]. Available: https://www.statista.com/statistics/1233713/south-korea-youth-unemployment-and-potential-labor-force-rate/
