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

Unemployment Rate in South Korea decreased to 3.40 percent in January of 2015 from 3.50 percent in December of 2014. 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
3.40 3.50 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 Monday, March 2, 2015.


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.

On an unadjusted basis, the unemployment rate rose by 0.4 percent to 3.8 percent. The labour force decreased to 26.09 million in January from 26.27 million in the previous month and there were more 223 thousand people neither employed nor unemployed. 

The number of unemployed persons increased to 988 thousand in January, compared with 886 thousand in December.

The number of employed persons totaled 25,106 thousand, down from 25,384 thousand in the previous month. From December to January, the mining and manufacturing sector added 14 thousand jobs. In contrast, the business and services sector lost 180 thousand jobs; employment in agriculture decreased by 89 thousand; the construction sector lost 36 thousand job and the wholesale and retail trade, accommodation and food lost 13 thousand job. Employment in the electricity, transport, telecom and finance sector remained stable compared to the preceding month.

A year earlier, the seasonally adjusted jobless rate was recorded at 3.2 percent. Year-on-year, employment rose 1.4 percent and unemployment went up 10.9 percent. The economically active population increased 1.7 percent and the inactive population edged up 0.2 percent. 

Statistics Korea l Rida Husna l rida@tradingeconomics.com
2/11/2015 11:32:22 AM


Recent Releases

South Korea Unemployment Rate Edges Up in December
South Korea seasonally adjusted jobless rate rose to 3.5 percent in December of 2014, from 3.4 percent in the previous month as employment fell in agriculture, business and construction. Published on 2015-01-14

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. Published on 2014-12-10


Calendar GMT Event Actual Previous Consensus Forecast (i)
2014-12-09 11:00 PM
Unemployment Rate  Nov
3.4% 3.5% 3.5% 3.5%
2015-01-13 11:00 PM
Unemployment Rate  Dec
3.5% 3.4% 3.4% 3.4%
2015-02-10 11:00 PM
Unemployment Rate  Jan
3.4% 3.5% 3.5%
2015-03-18 11:00 PM
Unemployment Rate  Feb
3.5%
2015-04-15 12:00 AM
Unemployment Rate  Mar
3.5%
2015-05-13 12:00 AM
Unemployment Rate  Apr
3.6%


South Korea Labour Last Previous Highest Lowest Unit
Unemployment Rate 3.40 3.50 7.10 2.90 percent [+]
Employed Persons 25860.00 25784.00 25860.00 20275.00 Thousand [+]
Unemployed Persons 922.00 940.00 1564.00 684.00 Thousand [+]
Productivity 101.40 103.30 107.70 51.90 Index Points [+]
Labor Force Participation Rate 61.00 61.50 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 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 [+]
Youth Unemployment Rate 9.00 8.70 13.40 3.80 percent [+]


Unemployment Rate Reference Previous Highest Lowest Unit
Australia 6.40 Jan/15 6.10 10.90 4.00 percent [+]
Brazil 5.30 Jan/15 4.30 13.10 4.30 percent [+]
Canada 6.60 Jan/15 6.70 13.10 2.90 percent [+]
China 4.10 Nov/14 4.10 4.30 3.90 percent [+]
Euro Area 11.20 Jan/15 11.30 12.00 7.20 percent [+]
France 10.40 Aug/14 10.10 10.80 7.20 percent [+]
Germany 4.70 Jan/15 4.80 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 12.60 Jan/15 12.90 13.30 5.90 percent [+]
Japan 3.60 Jan/15 3.40 5.60 1.00 percent [+]
Mexico 4.51 Jan/15 3.76 5.93 2.22 percent [+]
Netherlands 7.20 Jan/15 7.20 8.80 3.40 percent [+]
Russia 5.50 Jan/15 5.30 14.10 4.80 percent [+]
South Korea 3.40 Jan/15 3.50 7.10 2.90 percent [+]
Spain 23.70 Nov/14 23.67 26.94 4.41 percent [+]
Switzerland 3.50 Jan/15 3.40 5.40 1.60 percent [+]
Turkey 10.70 Nov/14 10.40 16.10 8.00 percent [+]
United Kingdom 5.70 Dec/14 5.80 12.00 3.40 percent [+]
United States 5.70 Jan/15 5.60 10.80 2.50 percent [+]