Employment Rate in South Korea decreased to 60.80 percent in December from 61.70 percent in November of 2019. Employment Rate in South Korea averaged 59.81 percent from 1999 until 2019, reaching an all time high of 61.70 percent in October of 2019 and a record low of 56.10 percent in February of 2001. source: Statistics Korea

Employment Rate in South Korea is expected to be 61.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Employment Rate in South Korea to stand at 61.50 in 12 months time. In the long-term, the South Korea Employment Rate is projected to trend around 61.50 percent in 2020, according to our econometric models.


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South Korea Employment Rate

Actual Previous Highest Lowest Dates Unit Frequency
60.80 61.70 61.70 56.10 1999 - 2019 percent Monthly
NSA


South Korea Employment Rate
In South Korea, the employment rate measures the number of people who have a job as a percentage of the population.

South Korea Labour Last Previous Highest Lowest Unit
Unemployment Rate 3.80 3.60 7.10 3.00 percent [+]
Employed Persons 27381.00 27264.00 27381.00 20268.00 Thousand [+]
Unemployed Persons 1068.00 1026.00 1546.00 691.00 Thousand [+]
Labor Force Participation Rate 62.90 63.60 64.20 48.50 percent [+]
Labour Costs 111.40 99.20 129.90 69.00 points [+]
Productivity 110.10 108.50 111.50 53.50 points [+]
Wages 3863726.00 3585588.00 4021244.00 2460239.00 KRW/Month [+]
Wages in Manufacturing 4199394.00 3804036.00 4654149.00 2520139.00 KRW/Month [+]
Minimum Wages 8350.00 7530.00 8350.00 600.00 KRW/Hour [+]
Population 51.61 51.36 51.61 25.01 Million [+]
Retirement Age Women 60.00 60.00 60.00 55.00 [+]
Retirement Age Men 60.00 60.00 60.00 55.00 [+]
Youth Unemployment Rate 7.30 7.10 13.40 3.80 percent [+]
Employment Rate 60.80 61.70 61.70 56.10 percent [+]