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

South Korea seasonally adjusted unemployment rate stood at 3.7 percent in May of 2016, unchanged from the April figure but slightly lower than 3.8 percent a year earlier. On an unadjusted basis, unemployment rate dropped to 3.7 percent from 3.9 percent in the preceding month. 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
3.70 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 June of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-04-14 11:00 PM Mar 3.8% 4.1% 4.0% 4.0%
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 3.7% 3.8%
2016-08-09 11:00 PM Jul 3.6%
2016-09-12 11:00 PM Aug 3.5%

South Korea Jobless Rate Steady at 3.7% in May


South Korea seasonally adjusted unemployment rate stood at 3.7 percent in May of 2016, unchanged from the April figure but slightly lower than 3.8 percent a year earlier.

On an unadjusted basis, unemployment rate dropped to 3.7 percent from 3.9 percent in the preceding month. The number of unemployed persons decreased to 1,055 thousand, as compared to 1.075 thousand in the previous month.

Youth unemployment rate was recorded at 9.7 percent in May, down from 10.9 percent in April.

The number of employed persons totaled 26,450 thousand in May 2016, up from 26,153 thousand in April. From April to May 2016, employment rose the most for business, personal, public service & others (+128 thousand) and agriculture, forestry & fishing(+66 thousand). Employment also increased for construction (+40 thousand), wholesale & retail trade, accommodation & food (+27 thousand); electricity, transport, telecom & finance (+25 thousand), mining & manufacturing (+11 thousand) and manufacturing (+11 thousand). 

Year-on-year, employment rose 1.0 percent while unemployment fell 1.7 percent. The economically active population marked 27,455 in May, up 0.9 percent from a year earlier. The inactive population rose to 15,932, up 1.1 percent. The labor force participation rate stood at 63.3 percent in May, remaining the same from a year earlier.

Statistics Korea l Rida Husna | rida@tradingeconomics.com
6/15/2016 3:34:43 AM

South Korea Labour Last Previous Highest Lowest Unit
Unemployment Rate 3.70 3.70 7.10 2.90 percent [+]
Employed Persons 26450.00 26153.00 26450.00 20275.00 Thousand [+]
Unemployed Persons 1005.00 1075.00 1564.00 684.00 Thousand [+]
Labor Force Participation Rate 63.30 62.80 63.40 48.50 percent [+]
Labour Costs 129.40 132.70 132.70 91.30 Index Points [+]
Productivity 97.90 95.50 107.70 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 9.70 10.90 13.40 3.80 percent [+]
Employment Rate 96.30 96.10 97.30 91.20 percent [+]




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