South Korea Unemployment Rate 1999-2014 | Data | Chart | Calendar

Unemployment Rate in South Korea decreased to 3.40 percent in November of 2014 from 3.50 percent in October of 2014. Unemployment Rate in South Korea averaged 3.63 percent from 1999 until 2014, 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
3.40 3.50 7.10 2.90 1999 - 2014 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, December 22, 2014.


South Korea Unemployment Rate Down to 3.4%


South Korean seasonally adjusted jobless rate decreased to 3.4 percent in November of 2014 from 3.5 percent in the previous three months, as more jobs were created in health services, internal trade and the construction sector.

On an unadjusted basis, there were 818 thousand unemployed persons in November, compared with 858 thousand in October. The number of employed persons totaled 25,968 thousand, up from 25,951 in the previous month.

From October to November, the business and public service sector added 62 thousand new jobs; the construction sector added 23 thousand and employment in the wholesale and retail trade sector increased by 21 thousand. In contrast, the agricultural sector recorded the biggest loss (-101 thousand).

A year earlier, the unemployment rate was recorded at 2.9 percent. The economically active population marked 26,786 thousand in November of 2014, up 2.1 percent year-on-year and the labor force participation rate stood at 62.7 percent up 0.6 percent. While employment rose 1.7 percent, the number of unemployed persons increased 16.8 percent year-on-year. The economically inactive population totaled 15,902 thousand people in November of 2014, decreasing 113 thousand persons or 0.7 percent.

Statistics Korea | Joana Taborda | joana.taborda@tradingeconomics.com
12/10/2014 12:41:54 PM


Recent Releases

South Korea Unemployment Rate Unchanged at 3.5% in October
South Korean seasonally adjusted unemployment rate was stable at 3.5 percent in October of 2014 while the number of employed increased slightly compared to the previous month. Published on 2014-11-13

South Korea Jobless Rate Stable at 3.5% in September
In September of 2014, South Korean seasonally adjusted unemployment rate was recorded at 3.5 percent, unchanged from the previous month, but higher than 3.0 percent a year earlier. Published on 2014-10-15


Calendar GMT Event Actual Previous Consensus Forecast (i)
2014-10-15 12:00 AM
Unemployment Rate  Sep
3.5% 3.5% 3.5% 3.5%
2014-11-11 11:00 PM
Unemployment Rate  Oct
3.5% 3.5% 3.5% 3.5%
2014-12-09 11:00 PM
Unemployment Rate  Nov
3.4% 3.5% 3.5% 3.5%
2015-01-14 11:00 PM
Unemployment Rate  Dec
3.4%
2015-02-11 11:00 PM
Unemployment Rate  Jan
3.5%
2015-03-11 11:00 PM
Unemployment Rate  Feb
3.5%


South Korea Labour Last Previous Highest Lowest Unit
Unemployment Rate 3.40 3.50 7.10 2.90 percent [+]
Employed Persons 25756.00 25652.00 25756.00 20275.00 Thousand [+]
Unemployed Persons 903.00 935.00 1564.00 684.00 Thousand [+]
Productivity 103.30 101.50 107.70 51.90 Index Points [+]
Labor Force Participation Rate 62.70 62.90 63.40 48.50 percent [+]
Wages 3226995.00 3025785.00 3256321.00 2460239.00 KRW [+]
Wages in Manufacturing 3521603.00 3230555.00 3682593.00 2520139.00 KRW [+]
Labour Costs 108.70 128.30 128.30 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 [+]


Unemployment Rate Reference Previous Highest Lowest Unit
Australia 6.30 Nov/14 6.20 10.90 4.00 percent [+]
Brazil 4.80 Nov/14 4.70 13.10 4.30 percent [+]
Canada 6.60 Nov/14 6.50 13.10 2.90 percent [+]
China 4.10 Aug/14 4.10 4.30 3.90 percent [+]
Euro Area 11.50 Oct/14 11.50 12.00 7.20 percent [+]
France 10.40 Aug/14 10.10 10.80 7.20 percent [+]
Germany 4.90 Oct/14 5.00 14.20 0.40 percent [+]
India 5.20 Dec/12 6.30 9.40 5.20 percent [+]
Indonesia 5.94 Aug/14 5.70 11.24 2.00 percent [+]
Italy 13.20 Oct/14 12.90 13.20 5.90 percent [+]
Japan 3.50 Oct/14 3.60 5.60 1.00 percent [+]
Mexico 4.53 Nov/14 4.78 5.93 2.22 percent [+]
Netherlands 8.00 Nov/14 8.00 8.80 3.40 percent [+]
Russia 5.20 Nov/14 5.10 14.10 4.80 percent [+]
South Korea 3.40 Nov/14 3.50 7.10 2.90 percent [+]
Spain 23.67 Aug/14 24.47 26.94 4.41 percent [+]
Switzerland 3.20 Nov/14 3.10 5.40 1.60 percent [+]
Turkey 10.50 Sep/14 10.10 16.10 8.00 percent [+]
United Kingdom 6.00 Oct/14 6.00 12.00 3.40 percent [+]
United States 5.80 Nov/14 5.80 10.80 2.50 percent [+]