78
Talent Solutions – Global QMR Q3 2022
South Korea
2022 Regional TWI Ranking
(out of 11 Countries)
Manpower 2022 Total Workforce Index
2022 Global TWI Ranking
(out of 64 Countries)
Global:
41
Availability:
29
Cost:
32
Regulation:
49
Productivity:
18
Region:
10
Availability:
5
Cost:
8
Regulation:
10
Productivity:
7
Remote
Readiness
4
Remote
Readiness
2
▪ Hiring is Slightly Difficult.
▪ 864,853 Open Vacancies (end Sept)
▪ Average time to fill is 35 Days
Q3 2022
Total Labor Force (000s)
29,025
Employed Workers (000s) 28,299
Unemployed Workers (000s) 726
Unemployment Rate
2.5%
Youth Unemployment Rate
5.4%
Hiring Demand Trend for All Positions
Hiring Demand Trend by Selected Job Function
Trade, Transport
tilities
19%
anufacturing
16%
Professional
Bus. Services
1 %
eisure
Hospitality
10%
Health Social ork
9%
Construction
%
Education
7%
Ag, ishing, ining
5%
in. Real Estate
5%
ovt, Social Sec,
Defence
%
nformation
Comms
3%
▪ Year on Year inflation as of August was 5.7%
▪ Minimum wage will increase by 5% next year. There are
3.4 million minimum wage workers. Wages for workers at
large companies have increased by 5.3% this year.
▪ Full benefit and pay parity is required.
Inflation and Wage Growth
Work Force Statistics
Employment by Industry
Talent Neuron
Sources:
https://ilostat.ilo.org/data/
https://data.worldbank.org/
https://tradingeconomics.com/
https://kosis.kr/statHtml
