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

South Korea seasonally adjusted unemployment rate stood at 3.6 percent in July of 2016, unchanged from the previous month but slightly lower than 3.7 percent a year earlier. On an unadjusted basis, jobless rate dropped to 3.5 percent from 3.6 percent in the preceding month. The number of unemployed persons decreased to 975 thousand, as compared to 1004 thousand in June. 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 3.60 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 August of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
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% 3.6% 3.6%
2016-09-12 11:00 PM Aug 3.6% 3.5%
2016-10-11 11:00 PM Sep 3.6%
2016-11-08 11:00 PM Oct 3.5%

South Korea Jobless Rate Steady at 3.6%


South Korea seasonally adjusted unemployment rate stood at 3.6 percent in July of 2016, unchanged from the previous month but slightly lower than 3.7 percent a year earlier.

On an unadjusted basis, jobless rate dropped to 3.5 percent from 3.6 percent in the preceding month. The number of unemployed persons decreased to 975 thousand, as compared to 1.004 thousand in June.

Youth unemployment rate was recorded at 9.2 percent in July, down from 10.3 percent in June.

The number of employed persons totaled 26,603 thousand in July 2016, up from 26,559 thousand in June. From June to July 2016, employment rose the most for: wholesale & retail trade, accommodation & food (+77 thousand) and construction (+28 thousand). In contrast, employment fell for: agriculture, forestry & fishing (-52 thousand), mining & manufacturing (-29 thousand) and business, personal, public service & others (-7 thousand)

Year-on-year, employment rose 1.1 percent while unemployment fell -2.4 percent. The economically active population marked 27,578 in July, up 1.0 percent from a year earlier. The inactive population came in at 15,864, up 0.7 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
8/10/2016 4:14:31 AM

South Korea Labour Last Previous Highest Lowest Unit
Unemployment Rate 3.60 3.60 7.10 2.90 percent [+]
Employed Persons 26603.00 26559.00 26603.00 20275.00 Thousand [+]
Unemployed Persons 975.00 1004.00 1564.00 684.00 Thousand [+]
Labor Force Participation Rate 63.50 63.50 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 9.20 10.30 13.40 3.80 percent [+]
Employment Rate 96.20 96.40 97.30 91.20 percent [+]




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