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

Unemployment Rate in South Korea decreased to 3.70 percent in March of 2015 from 3.90 percent in February of 2015. 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
3.70 3.90 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 Tuesday, April 21, 2015.


South Korea Jobless Rate Down in March


South Korea seasonally adjusted unemployment rate decreased to 3.7 percent in March of 2015 from 3.9 percent in the previous month, as the number of employed persons increased.

On an unadjusted basis, the unemployment rate rose to 4.0 percent from 4.6 percent in the preceding month. The number of unemployed persons decreased to 1,076 thousand in March as compared to 1,203 thousand in the preceding month.

The number of employed persons totaled 25,501 thousand, up from 25,195 thousand in the previous month. From February to March, employment in agriculture increased the most by 221 thousand, followed by the business, personal, public service & others (+157 thousand), and the construction sector (+45 thousand). In contrast, job losses were recorded for: the wholesale & retail trade, accommodation & food (-85 thousand), the manufacturing sector (-33 thousand), the mining (-31 thousand) and the electricity, transport, telecom and finance (- 3 thousand).

The labor force increased to 26.58 million in March from 26.39 million in February.

Year-on-year, employment rose 1.3 percent and unemployment went up 5.1 percent. The economically active population increased by 1.5 percent and the inactive population rose to 0.7 percent. 

Statistics Korea l Rida Husna l rida@tradingeconomics.com
4/15/2015 11:22:16 AM


Recent Releases

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. Published on 2015-03-18

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


Calendar GMT Event Actual Previous Consensus Forecast (i)
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
3.7% 3.9% 3.7% 3.6%
2015-05-13 12:00 AM
Unemployment Rate  Apr
3.7% 3.6%
2015-06-10 12:00 AM
Unemployment Rate  May
3.6%
2015-07-15 12:00 AM
Unemployment Rate  Jun
3.6%


South Korea Labour Last Previous Highest Lowest Unit
Unemployment Rate 3.70 3.90 7.10 2.90 percent [+]
Employed Persons 25862.00 25986.00 25986.00 20275.00 Thousand [+]
Unemployed Persons 982.00 1044.00 1564.00 684.00 Thousand [+]
Productivity 101.40 103.30 107.70 51.90 Index Points [+]
Labor Force Participation Rate 62.00 61.60 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/Hour [+]
Youth Unemployment Rate 10.70 11.00 13.40 3.80 percent [+]


Unemployment Rate Reference Previous Highest Lowest Unit
Australia 6.10 Mar/15 6.20 10.90 4.00 percent [+]
Brazil 5.90 Feb/15 5.30 13.10 4.30 percent [+]
Canada 6.80 Mar/15 6.80 13.10 2.90 percent [+]
China 4.10 Nov/14 4.10 4.30 3.90 percent [+]
Euro Area 11.30 Feb/15 11.40 12.00 7.20 percent [+]
France 10.40 Nov/14 10.30 10.80 7.20 percent [+]
Germany 4.80 Feb/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 12.70 Feb/15 12.60 13.20 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 7.00 Mar/15 7.10 7.90 3.60 percent [+]
Russia 5.90 Mar/15 5.80 14.10 4.80 percent [+]
South Korea 3.70 Mar/15 3.90 7.10 2.90 percent [+]
Spain 23.70 Nov/14 23.67 26.94 4.41 percent [+]
Switzerland 3.40 Mar/15 3.50 5.40 1.60 percent [+]
Turkey 11.30 Jan/15 10.90 16.10 8.00 percent [+]
United Kingdom 5.60 Feb/15 5.70 12.00 3.40 percent [+]
United States 5.50 Mar/15 5.50 10.80 2.50 percent [+]