South Korea Unemployment Rate  1999-2017 | Data | Chart | Calendar

South Korea's seasonally adjusted unemployment rate increased to 4 percent in February of 2017 from 3.6 percent in January. The figure came above market expectations of 3.7 percent. Yet, the jobless rate usually increases in February and March when students join the labour force and start looking for a job. Unemployment Rate in South Korea averaged 3.63 percent from 1999 until 2017, 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.

South Korea Unemployment Rate
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Calendar GMT Reference Actual Previous Consensus Forecast (i)
2017-01-10 11:00 PM Dec 3.4% 3.6% 3.6%
2017-02-14 11:00 PM Jan 3.6% 3.5% 3.4% 3.5%
2017-03-14 11:00 PM Feb 4% 3.6% 3.7% 3.9%
2017-04-11 11:00 PM Mar 4% 3.9%
2017-05-09 11:00 PM Apr 3.8%
2017-06-13 11:00 PM May 3.8%




South Korea Unemployment Rate Rises To 4% In February


South Korea's seasonally adjusted unemployment rate increased to 4 percent in February of 2017 from 3.6 percent in January. The figure came above market expectations of 3.7 percent. Yet, the jobless rate usually increases in February and March when students join the labour force and start looking for a job.

The number of unemployed persons rose by 126 thousand to 1,108 thousand and employment went up by 139 thousand to 26,541 thousand people.
 
A year earlier, the jobless rate was also at 4 percent.
 
On an unadjusted basis, the unemployment rate increased to 4 percent, the highest since January of 2000. The labour force went up by 404 thousand.  

Joana Taborda | joana.taborda@tradingeconomics.com
3/14/2017 11:15:13 PM



South Korea Labour Last Previous Highest Lowest Unit
Unemployment Rate 4.00 3.60 7.10 2.90 percent [+]
Employed Persons 26541.00 26402.00 26603.00 20275.00 Thousand [+]
Unemployed Persons 1108.00 982.00 1564.00 684.00 Thousand [+]
Labor Force Participation Rate 62.20 61.20 63.50 48.50 percent [+]
Labour Costs 138.70 123.30 149.70 91.30 Index Points [+]
Productivity 96.30 96.40 104.20 53.50 Index Points [+]
Wages 3480465.00 3465763.00 3534203.00 2460239.00 KRW/Month [+]
Wages in Manufacturing 3870051.00 3727377.00 3988066.00 2520139.00 KRW/Month [+]
Minimum Wages 6470.00 6030.00 6470.00 600.00 KRW/Hour [+]
Population 50.80 50.60 50.80 25.00 Million [+]
Retirement Age Women 60.00 55.00 60.00 55.00 [+]
Retirement Age Men 60.00 55.00 60.00 55.00 [+]
Youth Unemployment Rate 12.50 8.50 13.40 3.80 percent [+]
Employment Rate 95.00 58.90 95.00 56.10 percent [+]



South Korea Unemployment Rate Notes

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 March of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
4.00 3.60 7.10 2.90 1999 - 2017 percent Monthly
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