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

Unemployment Rate in South Korea increased to 3.50 percent in December of 2014 from 3.40 percent in November of 2014. Unemployment Rate in South Korea averaged 3.63 percent from 1999 until 2014, 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
3.50 3.40 7.10 2.90 1999 - 2014 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 Wednesday, January 28, 2015.


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.

On an unadjusted basis, there were 886 thousand unemployed persons in December, compared with 818 thousand in November. 

The number of employed persons totaled 25384 thousand in December, down from 25,968 thousand in the previous month. From November to December, the agriculture sector lost 434 thousand jobs; employment in business and services decreased by 223 thousand; and less 36 thousand persons were employed in construction. 

The economically active population marked 26,270 thousand in December of 2014, up 2.1 percent year-on-year and the labor force participation rate stood at 61.5 percent up 0.6 percent. While employment rose 1.7 percent, the number of unemployed persons increased 14.6 percent year-on-year. The economically inactive population totaled 16458 thousand people in November of 2014, decreasing 78 thousand persons or 0.5 percent. In December of 2013, the unemployment rate was recorded at 3.1 percent.

Statistics Korea | Joana Taborda | joana.taborda@tradingeconomics.com
1/14/2015 11:01:53 AM


Recent Releases

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

South Korea Unemployment Rate Unchanged at 3.5% in October
South Korean seasonally adjusted unemployment rate was stable at 3.5 percent in October of 2014 while the number of employed increased slightly compared to the previous month. Published on 2014-11-13


Calendar GMT Event Actual Previous Consensus Forecast (i)
2014-11-11 11:00 PM
Unemployment Rate  Oct
3.5% 3.5% 3.5% 3.5%
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%
2015-02-11 11:00 PM
Unemployment Rate  Jan
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%


South Korea Labour Last Previous Highest Lowest Unit
Unemployment Rate 3.50 3.40 7.10 2.90 percent [+]
Employed Persons 25756.00 25756.00 25756.00 20275.00 Thousand [+]
Unemployed Persons 934.00 903.00 1564.00 684.00 Thousand [+]
Productivity 101.40 103.30 107.70 51.90 Index Points [+]
Labor Force Participation Rate 61.50 62.70 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 [+]
Youth Unemployment Rate 8.70 8.00 13.40 3.80 percent [+]


Unemployment Rate Reference Previous Highest Lowest Unit
Australia 6.10 Dec/14 6.20 10.90 4.00 percent [+]
Brazil 4.80 Nov/14 4.70 13.10 4.30 percent [+]
Canada 6.60 Dec/14 6.60 13.10 2.90 percent [+]
China 4.10 Nov/14 4.10 4.30 3.90 percent [+]
Euro Area 11.50 Nov/14 11.50 12.00 7.20 percent [+]
France 10.40 Aug/14 10.10 10.80 7.20 percent [+]
Germany 5.00 Nov/14 5.00 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 13.40 Nov/14 13.30 13.40 5.90 percent [+]
Japan 3.50 Nov/14 3.50 5.60 1.00 percent [+]
Mexico 3.76 Dec/14 4.53 5.93 2.22 percent [+]
Netherlands 8.10 Dec/14 8.00 8.80 3.40 percent [+]
Russia 5.20 Nov/14 5.10 14.10 4.80 percent [+]
South Korea 3.50 Dec/14 3.40 7.10 2.90 percent [+]
Spain 23.70 Nov/14 23.67 26.94 4.41 percent [+]
Switzerland 3.40 Dec/14 3.20 5.40 1.60 percent [+]
Turkey 10.40 Oct/14 10.50 16.10 8.00 percent [+]
United Kingdom 5.80 Nov/14 6.00 12.00 3.40 percent [+]
United States 5.60 Dec/14 5.80 10.80 2.50 percent [+]