South Korea Non-Accelerating Inflation Rate of Unemployment (NAIRU): Forecast: OECD Member: Annual
NAIRU: Equilibrium Unemployment Rate
KR: NAIRU: Equilibrium Unemployment Rate data was reported at 3.542 % in 2022. This records an increase from the previous number of 3.535 % for 2021. KR: NAIRU: Equilibrium Unemployment Rate data is updated yearly, averaging 3.437 % from Dec 1985 to 2022, with 38 observations. The data reached an all-time high of 4.236 % in 1998 and a record low of 2.793 % in 1991. KR: NAIRU: Equilibrium Unemployment Rate data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s South Korea – Table KR.OECD.EO: Non-Accelerating Inflation Rate of Unemployment (NAIRU): Forecast: OECD Member: Annual. NAIRU - Equilibrium unemployment rate The equilibrium unemployment rate (code NAIRU) is estimated using a Kalman filter in a Phillips curve framework which assumes inflation expectations are anchored at the central bank’s inflation target . The NAIRU is then projected forward from the last estimated period using a simple autoregressive rule, exceptionally modified to account for recent labour market reforms, until the end of the forecasting horizon More details on methodology in Rusticelli E., Turner D. and M. C. Cavalleri (2015), Incorporating anchored inflation expectations in the Phillips Curve and in the derivation of OECD measures of equilibrium unemployment, OECD Economics Department Working Papers No.1231 OECD, Economics Department Working Papers: Incorporating anchored inflation expectations in the Phillips Curve and in the derivation of OECD measures of equilibrium unemployment:https://www.oecd-ilibrary.org/economics/incorporating-anchored-inflation-expectations-in-the-phillips-curve-and-in-the-derivation-of-oecd-measures-of-equilibrium-unemployment_5js1gmq551wd-en
| Last | Frequency | Range |
|---|---|---|
| 3.542 2022 | yearly | 1985 - 2022 |
View South Korea's NAIRU: Equilibrium Unemployment Rate from 1985 to 2022 in the chart:
NAIRU: Unemployment Gap
KR: NAIRU: Unemployment Gap data was reported at 0.090 % in 2022. This records an increase from the previous number of -0.493 % for 2021. KR: NAIRU: Unemployment Gap data is updated yearly, averaging -0.049 % from Dec 1985 to 2022, with 38 observations. The data reached an all-time high of 1.118 % in 1996 and a record low of -2.838 % in 1998. KR: NAIRU: Unemployment Gap data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s South Korea – Table KR.OECD.EO: Non-Accelerating Inflation Rate of Unemployment (NAIRU): Forecast: OECD Member: Annual. GAPUNR - Unemployment gap Difference of nairu and unemployment rate OECD calculation, see OECD Economic Outlook, Database Inventory OECD Economic Outlook, Database Inventory:https://www.oecd.org/eco/outlook/Database_Inventory.pdf
| Last | Frequency | Range |
|---|---|---|
| 0.090 2022 | yearly | 1985 - 2022 |