South Korea Unemployment Rate 1999-2015 | Data | Chart | Calendar

Unemployment Rate in South Korea increased to 3.90 percent in February of 2015, its highest rate in 12 months. Unemployment Rate in South Korea averaged 3.63 percent from 1999 until 2015, 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.

      Forecast    
South Korea Unemployment Rate


Actual Previous Highest Lowest Dates Unit Frequency
3.90 3.40 7.10 2.90 1999 - 2015 percent Monthly
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. Content for - South Korea Unemployment Rate - was last refreshed on Monday, March 30, 2015.


South Korea Jobless Rate Highest in 12 Months


South Korea seasonally adjusted unemployment rate unexpectedly increased to 3.9 percent in February of 2015 from 3.4 percent in the previous month. It is the highest rate since February 2014 as unemployment grew faster than employment.

Year-on-year, employment rose 1.5 percent and unemployment went up 2.1 percent. The economically active population increased by 1.5 percent and the inactive population rose to 0.5 percent. In January 2014, the seasonally adjusted jobless rate was recorded at 3.9 percent. 

On an unadjusted basis, the unemployment rate rose to 4.6 percent from 3.8 percent in the preceding month. The number of unemployed persons increased to 1,203 thousand in February as compared to 988 thousand in the preceding month.

The labor force increased to 26.39 million in February from 26.09 million in January.

The number of employed persons totaled 25,195 thousand, up from 25,106 thousand in the previous month. From January to February, the construction sector lost 26 thousand jobs and the wholesale and retail trade, accommodation and food lost 11 thousand jobs. In contrast, employment in agriculture increased by 53 thousand, the mining sector added 13 thousand, the electricity, transport, telecom and finance sector added 8 thousand and the business and services sector added 53 thousand jobs.

 

Statistics Korea l Rida Husna l rida@tradingeconomics.com
3/18/2015 1:45:01 PM


Recent Releases

South Korea Jobless Rate Edges Down in January
South Korea seasonally adjusted unemployment rate decreased to 3.4 percent in January of 2015, from 3.5 percent in the previous month as more people were detached from the labour market. Published on 2015-02-11

South Korea Unemployment Rate Edges Up in December
South Korea seasonally adjusted jobless rate rose to 3.5 percent in December of 2014, from 3.4 percent in the previous month as employment fell in agriculture, business and construction. Published on 2015-01-14


Calendar GMT Event Actual Previous Consensus Forecast (i)
2015-01-13 11:00 PM
Unemployment Rate  Dec
3.5% 3.4% 3.4% 3.4%
2015-02-10 11:00 PM
Unemployment Rate  Jan
3.4% 3.5% 3.5%
2015-03-17 11:00 PM
Unemployment Rate  Feb
3.9% 3.4% 3.5%
2015-04-15 12:00 AM
Unemployment Rate  Mar
3.9% 3.5%
2015-05-13 12:00 AM
Unemployment Rate  Apr
3.6%
2015-06-10 12:00 AM
Unemployment Rate  May
3.6%


South Korea Labour Last Previous Highest Lowest Unit
Unemployment Rate 3.90 3.40 7.10 2.90 percent [+]
Employed Persons 25986.00 25860.00 25986.00 20275.00 Thousand [+]
Unemployed Persons 1044.00 922.00 1564.00 684.00 Thousand [+]
Productivity 101.40 103.30 107.70 51.90 Index Points [+]
Labor Force Participation Rate 61.60 61.00 63.40 48.50 percent [+]
Wages 3252495.00 3226995.00 3256321.00 2460239.00 KRW [+]
Wages in Manufacturing 3589912.00 3521603.00 3682593.00 2520139.00 KRW [+]
Labour Costs 122.70 108.60 128.30 86.30 Index Points [+]
Population 50.22 50.00 50.22 25.00 Million [+]
Retirement Age Women 60.00 60.00 60.00 60.00 [+]
Retirement Age Men 60.00 60.00 60.00 60.00 [+]
Minimum Wages 5580.00 5210.00 5580.00 600.00 KRW/hourly [+]
Youth Unemployment Rate 11.00 9.00 13.40 3.80 percent [+]


Unemployment Rate Reference Previous Highest Lowest Unit
Australia 6.30 Feb/15 6.40 10.90 4.00 percent [+]
Brazil 5.90 Feb/15 5.30 13.10 4.30 percent [+]
Canada 6.80 Feb/15 6.60 13.10 2.90 percent [+]
China 4.10 Dec/14 4.10 4.30 3.90 percent [+]
Euro Area 11.20 Jan/15 11.30 12.00 7.20 percent [+]
France 10.40 Nov/14 10.30 10.80 7.20 percent [+]
Germany 4.70 Jan/15 4.80 14.20 0.40 percent [+]
India 4.90 Dec/13 5.20 9.40 4.90 percent [+]
Indonesia 5.94 Aug/14 5.70 11.24 2.00 percent [+]
Italy 12.60 Jan/15 12.70 13.30 5.90 percent [+]
Japan 3.50 Feb/15 3.60 5.60 1.00 percent [+]
Mexico 4.33 Feb/15 4.51 5.93 2.22 percent [+]
Netherlands 7.10 Feb/15 7.20 8.80 3.40 percent [+]
Russia 5.80 Feb/15 5.50 14.10 4.80 percent [+]
South Korea 3.90 Feb/15 3.40 7.10 2.90 percent [+]
Spain 23.70 Nov/14 23.67 26.94 4.41 percent [+]
Switzerland 3.50 Feb/15 3.50 5.40 1.60 percent [+]
Turkey 10.90 Dec/14 10.70 16.10 8.00 percent [+]
United Kingdom 5.70 Jan/15 5.70 12.00 3.40 percent [+]
United States 5.50 Feb/15 5.70 10.80 2.50 percent [+]