Unemployment forecast · World Bank data
South Korea unemployment forecast
Unemployment (% of labor force, ILO modeled)
Latest · 2025
2.7%
The unemployment rate in South Korea is forecast at 2.7% in 12 months (2026), with an 80% range of 2.5% to 3.1%. The latest World Bank figure is 2.7% for 2025.
In 24 months (2027) and 36 months (2028) the model projects 2.7% and 2.7% (0.0 pp versus 2025).
Display-only line. World Bank data is annual: the forecasts are the yearly points marked on the chart. The monthly line between them is a straight-line interpolation for display, not a monthly forecast.
- 6 monthsinterpolated · display only
- 2.7%■ 0.0 pp80%: 2.6% – 2.9%
- 12 months2026
- 2.7%■ 0.0 pp80%: 2.5% – 3.1%
- 24 months2027
- 2.7%■ 0.0 pp80%: 2.5% – 3.2%
- 36 months2028
- 2.7%■ 0.0 pp80%: 2.5% – 3.3%
Backtest · last 5 years
How accurate has this been?
| Horizon | Tests | Avg. error | Naive error | In 80% range |
|---|---|---|---|---|
| 12 months | 5 | 0.26 pp | 0.29 pp | 80% |
| 24 months | 4 | 0.55 pp | 0.53 pp | 50% |
| 36 months | 3 | 0.73 pp | 0.76 pp | 33% |
We re-ran the model as if standing at past dates, using only the data available then. Avg. error is the mean absolute gap between the median and what happened (percentage points); naive assumes no change from the last value. A well-calibrated 80% range contains about 80% of outcomes. Annual series have few test points, so treat these as rough. Methodology
Source data
Recent values
| Year | Value | Change |
|---|---|---|
| 2025 | 2.7% | −0.10 pp |
| 2024 | 2.8% | +0.11 pp |
| 2023 | 2.7% | −0.18 pp |
| 2022 | 2.9% | −0.78 pp |
| 2021 | 3.6% | −0.29 pp |
| 2020 | 3.9% | +0.19 pp |
| 2019 | 3.7% | −0.08 pp |
| 2018 | 3.8% | +0.17 pp |
| 2017 | 3.7% | +0.00 pp |
| 2016 | 3.7% | +0.10 pp |
About this forecast
- Source
- World Bank, World Development Indicators · series SL.UEM.TOTL.ZS
- Data through
- 2025 · 35 observations
- Forecast updated
- Sep 28, 2026
- Model
- TimesFM 2.5 (Google Research, Apache-2.0), zero-shot
More forecasts for South Korea
South Korea overviewOther unemployment forecasts
All 40Statistical model, not financial advice. This forecast is generated automatically from public data; the 80% range means outcomes are expected outside it about one time in five. Don't make financial decisions based only on it.
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