In 2024, the combined rate of labor underutilization in South Korea declined to approximately
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percent, marking a decrease compared to the previous year. This measure encompasses individuals in temporary underemployment as well as those who are part of the potential labor force.
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Composite rate of labor underutilization in South Korea from 2015 to 2024
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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 in South Korea from 2015 to 2024 [Graph]. In Statista. Retrieved June 28, 2025, from https://www.statista.com/statistics/1233336/south-korea-composite-labor-underutilization-rate/
KOSIS. "Composite rate of labor underutilization in South Korea from 2015 to 2024." Chart. May 17, 2024. Statista. Accessed June 28, 2025. https://www.statista.com/statistics/1233336/south-korea-composite-labor-underutilization-rate/
KOSIS. (2024). Composite rate of labor underutilization in South Korea from 2015 to 2024. Statista. Statista Inc.. Accessed: June 28, 2025. https://www.statista.com/statistics/1233336/south-korea-composite-labor-underutilization-rate/
KOSIS. "Composite Rate of Labor Underutilization in South Korea from 2015 to 2024." Statista, Statista Inc., 17 May 2024, https://www.statista.com/statistics/1233336/south-korea-composite-labor-underutilization-rate/
KOSIS, Composite rate of labor underutilization in South Korea from 2015 to 2024 Statista, https://www.statista.com/statistics/1233336/south-korea-composite-labor-underutilization-rate/ (last visited June 28, 2025)
Composite rate of labor underutilization in South Korea from 2015 to 2024 [Graph], KOSIS, May 17, 2024. [Online]. Available: https://www.statista.com/statistics/1233336/south-korea-composite-labor-underutilization-rate/
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