South Korea Unemployment Rate 1999-2014 | Data | Chart | Calendar

Unemployment Rate in South Korea increased to 3.50 percent in August of 2014 from 3.40 percent in July 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.

   
 
 

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 Sunday, September 21, 2014.


South Korea Jobless Rate Inches Up in August


In August of 2014, South Korean seasonally adjusted unemployment rate inched up to 3.5 percent from 3.4 percent a year earlier, due to job losses in agriculture, electricity, transport, telecom and finance.

The number of unemployed persons totaled 890 thousand people in August, increasing by 107 thousand or 13.7 percent year-on-year. The number of employed persons totaled 25,885 thousand in August, up by 595 thousand persons or 2.3 percent over a year earlier.

In August of 2014, the agriculture sector lost 125 thousand jobs (-7.3 percent year-on-year) and the electricity, transport, telecom and finance lost 92 thousand (-2.9 percent).

Employment increased the most in wholesale & retail trade, accommodation & food (285 thousand or 5 percent year-on-year), business, personal and public services (245 thousand or 2.7 percent) and manufacturing (219 thousand or 5.3 percent). 

The number of temporary employees increased to 5,104 thousand in August from 4,862 thousand persons a year earlier.

The economically active population marked 26,775 thousand in August, growing by 701 thousand persons or 2.7 percent year-on-year. Those who are inactive were 15,797 thousand, decreasing by 298 thousand persons or 1.8 percent compared to the previous year.

Statistics Korea l Rida l rida@tradingeconomics.com
9/12/2014 12:42:31 PM


Recent Releases

South Korea Jobless Rate Down in July
In July of 2014, South Korean seasonally adjusted unemployment rate went down to 3.4 percent from 3.6 percent in the previous month as the number of employed persons increased. Published on 2014-08-13

South Korea Jobless Rate Inches Down in June
In June of 2014, South Korean seasonally adjusted unemployment rate decreased to 3.6 percent from 3.7 percent in the previous month. A year earlier, the jobless rate was recorded at 3.1 percent. Published on 2014-07-16


Calendar GMT Country Event Reference Actual Previous Consensus Forecast
2014-06-11 12:00 AM South Korea
Unemployment Rate
May 2014 3.7% 3.7% 3.6% 3.6%
2014-07-16 12:00 AM South Korea
Unemployment Rate
Jun 2014 3.6% 3.7% 3.7% 3.7%
2014-08-13 12:00 AM South Korea
Unemployment Rate
Jul 2014 3.4% 3.6% 3.7%
2014-09-12 12:00 AM South Korea
Unemployment Rate
Aug 2014 3.5% 3.4% 3.4% 3.5%
2014-10-15 12:00 AM South Korea
Unemployment Rate
Sep 2014 3.5% 3.5%


Labour Last Previous Highest Lowest Unit
Unemployment Rate 3.50 3.40 7.10 2.90 Percent [+]
Employed Persons 25574.00 25422.00 25644.00 20275.00 Thousand [+]
Unemployed Persons 909.00 944.00 1564.00 684.00 Thousand [+]
Productivity 103.40 106.10 107.70 51.90 Index Points [+]
Labor Force Participation Rate 63.20 63.10 63.40 48.50 Percent [+]
Wages 3256321.00 3126967.00 3256321.00 2460239.00 KRW [+]
Wages in Manufacturing 3682593.00 3418613.00 3682593.00 2520139.00 KRW [+]
Labour Costs 125.80 109.80 125.80 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 [+]


Unemployment Rate Reference Previous Highest Lowest Unit
Australia 6.10 Aug/14 6.40 10.90 4.00 Percent [+]
Brazil 4.90 Apr/14 5.00 13.10 4.30 Percent [+]
Canada 7.00 Aug/14 7.00 13.10 2.90 Percent [+]
China 4.10 Jun/14 4.10 4.30 3.90 Percent [+]
Euro Area 11.50 Jul/14 11.50 12.00 7.20 Percent [+]
France 10.20 May/14 10.10 10.80 7.20 Percent [+]
Germany 4.90 Jul/14 5.00 14.20 0.40 Percent [+]
India 5.20 Dec/12 6.30 9.40 5.20 Percent [+]
Indonesia 5.70 Feb/14 6.17 11.24 2.00 Percent [+]
Italy 12.60 Jul/14 12.30 12.80 5.90 Percent [+]
Japan 3.80 Jul/14 3.70 5.60 1.00 Percent [+]
Mexico 5.47 Jul/14 4.80 5.93 2.22 Percent [+]
Netherlands 8.00 Aug/14 8.20 8.80 3.40 Percent [+]
Russia 4.80 Aug/14 4.90 14.10 4.80 Percent [+]
South Korea 3.50 Aug/14 3.40 7.10 2.90 Percent [+]
Spain 24.47 May/14 25.93 26.94 4.41 Percent [+]
Switzerland 3.00 Aug/14 2.90 5.40 1.60 Percent [+]
Turkey 9.10 Jun/14 8.80 16.10 8.00 Percent [+]
United Kingdom 6.20 Jul/14 6.40 12.00 3.40 Percent [+]
United States 6.10 Aug/14 6.20 10.80 2.50 Percent [+]





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