South Korea Unemployment Rate  1999-2016 | Data | Chart | Calendar

South Korea's seasonally adjusted unemployment rate fell to 3.6 percent in June of 2016 from 3.7 percent in the previous month and from 3.9 percent a year earlier. The figure came in better than market expectations, hitting the lowest rate since January this year. On an unadjusted basis, the jobless rate dropped to 3.6 percent from 3.7 percent in May. Unemployment Rate in South Korea averaged 3.63 percent from 1999 until 2016, reaching an all time high of 7.10 percent in June of 1999 and a record low of 2.90 percent in November of 2013. Unemployment Rate in South Korea is reported by the Statistics Korea.

South Korea Unemployment Rate
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Actual Previous Highest Lowest Dates Unit Frequency
3.60 3.70 7.10 2.90 1999 - 2016 percent Monthly
SA
In South Korea, the seasonally adjusted unemployment rate measures the number of people actively looking for a job as a percentage of the labour force. This page provides - South Korea Unemployment Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. South Korea Unemployment Rate - actual data, historical chart and calendar of releases - was last updated on July of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-05-10 11:00 PM Apr 3.7% 3.8% 3.8%
2016-06-14 11:00 PM May 3.7% 3.7% 3.8% 3.9%
2016-07-12 11:00 PM Jun 3.6% 3.7% 3.7% 3.8%
2016-08-09 11:00 PM Jul 3.6% 3.6%
2016-09-12 11:00 PM Aug 3.5%
2016-10-11 11:00 PM Sep 3.6%

South Korea Jobless Rate Falls to 5-Month Low


South Korea seasonally adjusted unemployment rate stood at 3.6 percent in June of 2016, down slightly from 3.7 percent in May and better than market expectations. It was the lowest jobless rate since January.

A year earlier, the jobless rate stood at  3.9 percent. 

On an unadjusted basis, unemployment rate dropped to 3.6 percent from 3.7 percent in the preceding month. The number of unemployed persons decreased to 1,004 thousand, as compared to 1,005 thousand in the previous month.

Youth unemployment rate was recorded at 10.3 percent in June, up from 9.7 percent in May.

The number of employed persons totaled 26,559 thousand in June 2016, up from 26,450 thousand in May. From May to June 2016, employment rose the most for wholesale & retail trade, accommodation & food (+68 thousand), followed by business, personal, public service & others (+29 thousand) and agriculture, forestry & fishing (+19 thousand). Employment also went up for construction (+7 thousand) and electricity, transport, telecom & finance (+7 thousand). In contrast, employment fell for mining & manufacturing (-20 thousand).

Year-on-year, employment rose 1.4 percent while unemployment fell -4.4 percent. The economically active population marked 27,563 in June, up 1.1 percent from a year earlier. The inactive population came in at 15,859, up 0.6 percent. The labor force participation rate stood at 63.5 percent in June, up 0.2 percentage points from a year earlier.

Statistics Korea l Rida Husna | rida@tradingeconomics.com
7/13/2016 3:21:07 AM

South Korea Labour Last Previous Highest Lowest Unit
Unemployment Rate 3.60 3.70 7.10 2.90 percent [+]
Employed Persons 26559.00 26450.00 26559.00 20275.00 Thousand [+]
Unemployed Persons 1004.00 1005.00 1564.00 684.00 Thousand [+]
Labor Force Participation Rate 63.50 63.30 63.50 48.50 percent [+]
Labour Costs 148.10 129.40 148.10 91.30 Index Points [+]
Productivity 97.60 97.90 107.70 51.90 Index Points [+]
Wages 3534203.00 3364661.00 3534203.00 2460239.00 KRW/Month [+]
Wages in Manufacturing 3988066.00 3725608.00 3988066.00 2520139.00 KRW/Month [+]
Minimum Wages 6030.00 5580.00 6030.00 600.00 KRW/Hour [+]
Population 50.60 50.42 50.60 25.00 Million [+]
Retirement Age Women 55.00 55.00 55.00 55.00 [+]
Retirement Age Men 55.00 55.00 55.00 55.00 [+]
Youth Unemployment Rate 10.30 9.70 13.40 3.80 percent [+]
Employment Rate 96.40 96.30 97.30 91.20 percent [+]




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