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

South Korea seasonally adjusted jobless rate was recorded at 3.4 percent in December of 2015 for the third consecutive month, matching market expectations. A year earlier unemployment was at 3.5 percent. 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.

South Korea Unemployment Rate
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Actual Previous Highest Lowest Dates Unit Frequency
3.40 3.40 7.10 2.90 1999 - 2015 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 February of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2015-11-10 11:00 PM Oct 3.4% 3.5% 3.6% 3.5%
2015-12-15 11:00 PM Nov 3.4% 3.4% 3.5% 3.6%
2016-01-12 11:00 PM Dec 3.4% 3.4% 3.4% 3.4%
2016-02-16 11:00 PM Jan 3.4% 3.4%
2016-03-15 11:00 PM Feb 3.5%
2016-04-14 11:00 PM Mar 3.6%

South Korea Jobless Rate Steady for the 3rd Month


South Korea seasonally adjusted unemployment rate came in at 3.4 percent in December of 2015, staying on the same level for the third straight month and in line with market expectations. The figure marked the lowest since January.

On an unadjusted basis, the unemployment rate rose 3.2 percent from 3.1 percent in the preceding month and 3.4 percent a year earlier. The number of unemployed persons increased to 868 thousand in December as compared to 829 thousand in the previous month.

The number of employed persons totaled 25,879 thousand in December 2015, down from 26,253 thousand in a month earlier. From November to December, employment rose the most for wholesale & retail trade, accommodation & food (+21 thousand), followed by construction (+8 thousand), manufacturing (+7 thousand) and mining & manufacturing (+6 thousand). In contrast, employment fell in the agriculture (-291 thousand), business, personal, public service & others (-99 thousand) and electricity, transport, telecom & finance (-18 thousand).

Year-on-year, employment rose 2.0 percent while unemployment dropped by 2.1 percent. The economically active population marked 26,747 in December, up 1.8 percent from a year earlier. The inactive population rose to 16,469, up 0.1 percent. The labor force participation rate stood at 61.9 percent in December, up 0.4 percentage point from a year earlier.

Statistics Korea l Rida Husna | rida@tradingeconomics.com
1/13/2016 1:59:40 AM

South Korea Labour Last Previous Highest Lowest Unit
Unemployment Rate 3.40 3.40 7.10 2.90 percent [+]
Employed Persons 26293.00 26052.00 26293.00 20275.00 Thousand [+]
Unemployed Persons 922.00 928.00 1564.00 684.00 Thousand [+]
Labor Force Participation Rate 61.90 62.70 63.40 48.50 percent [+]
Labour Costs 132.70 118.20 132.70 91.30 Index Points [+]
Productivity 95.50 96.80 107.70 51.90 Index Points [+]
Wages 3350168.00 3128487.00 3356165.00 2460239.00 KRW/Month [+]
Wages in Manufacturing 3637932.00 3341162.00 3760722.00 2520139.00 KRW/Month [+]
Minimum Wages 6030.00 5580.00 6030.00 600.00 KRW/Hour [+]
Population 50.42 50.22 50.42 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 [+]
Employment Rate 96.80 96.90 97.30 91.20 percent [+]
Youth Unemployment Rate 8.30 8.20 13.40 3.80 percent [+]




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