stats / south korea / jobs & cost of living

Jobs & cost of living · South Korea

For recent grads: how easy it is to find work, how good the jobs are, what they pay and what life costs.

Grad view

South Korea

Youth unemployment: 6.1 % · Sep 2026
Recent-grad employment: 79.5 % · 2025
Average wage (PPP): 61,259 US$ PPP · 2025
Price level: 62 USA = 100 · 2025
Housing squeeze: 47 index · Q2 2026

Latest	KR
Unemployment rate %	2.6Sep 2026
Youth unemployment, 15–24 %	6.1Sep 2026
Unemployment with a degree %	2.72025
Long-term unemployed (1 year +) % of unemployed	1.02025
Employment rate, tertiary-educated 25–34 %	79.52025
Not in employment, education or training (NEET) %	10.82002
Graduate earnings premium index	1142024
Temporary contracts %	27.52025
Temporary contracts, 15–24 %	39.92025
Part-time work %	26.42025
Hours worked per worker, per year hours	1,8332025
Very long hours (50 h + a week) %	16.32025
Average annual wage US$ PPP	61,2592025
Median full-time wage (approx.) US$ PPP	47,9812025
Real wage growth %	0.62025
Minimum wage, hourly US$ PPP	11.402025
Minimum wage vs median wage % of median	59.62025
Price level of household consumption USA = 100	622025
Price level now (OECD, monthly) USA = 100	61Aug 2026
Big Mac price US$	3.84H2 2026
House price-to-income index	47Q2 2026
House price-to-rent index	107Q2 2026
Rents Index 2015=100	111Q3 2026

Unemployment

Unemployment rate

monthly where available · %

Source: OECD Data Explorer (prices; financial market statistics), CC BY 4.0

Youth unemployment, 15–24

US 16–24 · %

Source: OECD Data Explorer (prices; financial market statistics), CC BY 4.0

Unemployment with a degree

advanced education · US bachelor’s, 25–34 · %

Source: World Bank, World Development Indicators, CC BY 4.0

Finding a job

Long-term unemployed (1 year +)

share of the unemployed · % of unemployed

Source: OECD Data Explorer (prices; financial market statistics), CC BY 4.0

Graduates

Employment rate, tertiary-educated 25–34

Source: OECD Data Explorer (prices; financial market statistics), CC BY 4.0

Not in employment, education or training (NEET)

EU 15–29 · elsewhere 15–24 · %

Source: World Bank, World Development Indicators, CC BY 4.0

Graduate earnings premium

full-time earnings of tertiary-educated 25–34s, upper secondary = 100 · index

Source: OECD Data Explorer (prices; financial market statistics), CC BY 4.0

Job quality

Temporary contracts

share of employees · %

Source: OECD Data Explorer (prices; financial market statistics), CC BY 4.0

Temporary contracts, 15–24

Source: OECD Data Explorer (prices; financial market statistics), CC BY 4.0

Part-time work

share of employment · %

Source: World Bank, World Development Indicators, CC BY 4.0

Hours worked per worker, per year

hours

Source: OECD Data Explorer (prices; financial market statistics), CC BY 4.0

Very long hours (50 h + a week)

work–life balance: share of workers · %

Source: OECD Data Explorer (prices; financial market statistics), CC BY 4.0

Wages

Average annual wage

full-time equivalent, constant prices, PPP · US$ PPP

Source: OECD Data Explorer (prices; financial market statistics), CC BY 4.0

Median full-time wage (approx.)

real minimum wage ÷ minimum-to-median ratio, PPP · US$ PPP

Source: OECD Data Explorer (prices; financial market statistics), CC BY 4.0

Real wage growth

yearly change of the average wage after inflation · %

Source: OECD Data Explorer (prices; financial market statistics), CC BY 4.0

Minimum wage, hourly

constant prices, PPP · US$ PPP

Source: OECD Data Explorer (prices; financial market statistics), CC BY 4.0

Minimum wage vs median wage

% of median

Source: OECD Data Explorer (prices; financial market statistics), CC BY 4.0

Cost of living

Price level of household consumption

how expensive life is at market exchange rates, USA = 100 · USA = 100

Source: World Bank, World Development Indicators, CC BY 4.0

Price level now (OECD, monthly)

comparative price level, USA = 100 · USA = 100

Source: OECD Data Explorer (prices; financial market statistics), CC BY 4.0

Big Mac price

NL and EU: euro-area average · US$

Source: The Economist, Big Mac index (CC BY 4.0)

Housing

House price-to-income

vs its own long-term average (= 100) · index

Source: OECD Data Explorer (prices; financial market statistics), CC BY 4.0

House price-to-rent

vs its own long-term average (= 100) · index

Source: OECD Data Explorer (prices; financial market statistics), CC BY 4.0

Rents

Index 2015=100

Source: OECD Data Explorer (prices; financial market statistics), CC BY 4.0

Not available for South Korea: Unemployment, 25–29, Job vacancy rate, Job openings per unemployed person, Quits rate, Employment rate of recent graduates, Usual weekly hours, full-time job, Minimum wage, monthly (EU), Price level of household consumption (EU27 = 100), Price level: food (EU27 = 100), Price level: housing, water, energy (EU27 = 100), Price level: transport (EU27 = 100), Price level: restaurants and hotels (EU27 = 100), Housing cost overburden, aged 25–29, Still living with their parents, 25–29.