Unemployment · South Korea
South Korea unemployment forecast
Unemployment (% of labor force, ILO modeled)
Model run: Sep 28, 2026 · TimesFM 2.5
12 months forecast · 2026
2.7%
Median forecast · p10-p90: 2.5% to 3.1%
24 months forecast · 2027
2.7%
Median forecast · p10-p90: 2.5% to 3.2%
36 months forecast · 2028
2.7%
Median forecast · p10-p90: 2.5% to 3.3%
Latest observed: 2.7% · 2025
Choose a horizon
The median and range update together.
History & forecast
White: observed history. Blue: forecast median. Shaded: p10-p90 model range.
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.
All values in % of labor force, ILO modeled
Model validation
| Horizon | Tests | Model errorModel | No-change errorNo change | Band coverageCoverage |
|---|---|---|---|---|
| 12 months | 5 | 0.26 pp | 0.29 pp | 80.0% |
| 24 months | 4 | 0.55 pp | 0.53 pp | 50.0% |
| 36 months | 3 | 0.73 pp | 0.76 pp | 33.3% |
In these tests the model beat a no-change forecast at 2 of 3 horizons; no change was better or equal at the rest. Rolling backtests of this model on the latest revised history; overlapping forecast errors are not independent. The p10-p90 band is a model range, not a calibrated guarantee. Methodology · Forecast audit
Evidence & context
Source data
Source & observed data
| 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 |
Sources & limits
Source: World Bank, World Development Indicators · SL.UEM.TOTL.ZS. Methodology · Forecast audit
Historical context
Outside the model
What could change this forecast?
A small, dated reading list. TimesFM sees the data series, not these stories. This context is not a trading signal.
No recent item selected for this series. We would rather leave this quiet than fill it with a weak match.
Selected for relevance, not a claim of causation. Source dates stay visible. Original reporting remains with its publisher.