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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Combined unemployment and potential labor force rate South Korea 2015-2024
In 2024, the combined unemployment rate and potential labor force in South Korea decreased to approximately *** percent. This figure represented the lowest recorded rate in the country over the past nine years.
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KOSIS. (May 17, 2024). Combined rate of unemployment and potential labor force in South Korea from 2015 to 2024 [Graph]. In ÌÇÐÄÆƽâ°æ. Retrieved August 03, 2026, from /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 2024." Chart. May 17, 2024. ÌÇÐÄÆƽâ°æ. Accessed August 03, 2026. /statistics/1233367/south-korea-combined-rate-of-unemployment-and-potential-labor-force/
KOSIS. (2024). Combined rate of unemployment and potential labor force in South Korea from 2015 to 2024. ÌÇÐÄÆƽâ°æ. ÌÇÐÄÆƽâ°æ Inc.. Accessed: August 03, 2026. /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 2024." ÌÇÐÄÆƽâ°æ, ÌÇÐÄÆƽâ°æ Inc., 17 May 2024, /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 2024 ÌÇÐÄÆƽâ°æ, /statistics/1233367/south-korea-combined-rate-of-unemployment-and-potential-labor-force/ (last visited August 03, 2026)
Combined rate of unemployment and potential labor force in South Korea from 2015 to 2024 [Graph], KOSIS, May 17, 2024. [Online]. Available: /statistics/1233367/south-korea-combined-rate-of-unemployment-and-potential-labor-force/
