In 2023, the composite rate of labor underutilization for people aged 15 to 29 in South Korea was approximately 16.6 percent, showing a decrease compared to the previous year. The rate of labor underutilization among the youth in South Korea has been decreasing in recent years.
Composite rate of labor underutilization of people aged 15 to 29 years old in South Korea from 2015 to 2023
The composite rate of labor underutilization is one of the labor underutilization indicators of the International Labour Organization (LU4 indicator) and is calculated as [(persons in time-related underemployment + persons in unemployment +
potential labor force) /(labor force + potential labor force)] x 100.
It captures the unemployment situation in a broader way 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 or people in time-related underemployment who wanted or were able to work additional hours.
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KOSIS. (May 17, 2024). Composite rate of labor underutilization of people aged 15 to 29 years old in South Korea from 2015 to 2023 [Graph]. In Statista. Retrieved November 18, 2024, from https://www.statista.com/statistics/1229282/south-korea-extended-unemployment-rate-of-youth/
KOSIS. "Composite rate of labor underutilization of people aged 15 to 29 years old in South Korea from 2015 to 2023." Chart. May 17, 2024. Statista. Accessed November 18, 2024. https://www.statista.com/statistics/1229282/south-korea-extended-unemployment-rate-of-youth/
KOSIS. (2024). Composite rate of labor underutilization of people aged 15 to 29 years old in South Korea from 2015 to 2023. Statista. Statista Inc.. Accessed: November 18, 2024. https://www.statista.com/statistics/1229282/south-korea-extended-unemployment-rate-of-youth/
KOSIS. "Composite Rate of Labor Underutilization 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/1229282/south-korea-extended-unemployment-rate-of-youth/
KOSIS, Composite rate of labor underutilization of people aged 15 to 29 years old in South Korea from 2015 to 2023 Statista, https://www.statista.com/statistics/1229282/south-korea-extended-unemployment-rate-of-youth/ (last visited November 18, 2024)
Composite rate of labor underutilization 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/1229282/south-korea-extended-unemployment-rate-of-youth/
