South Korea Unemployment Rate

Unemployment Rate in South Korea decreased to 3.50 percent in March of 2014 from 3.90 percent in February of 2014. Unemployment Rate in South Korea is reported by the Statistics Korea. Unemployment Rate in South Korea averaged 3.64 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. 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. 2014-04-23

Actual Previous Highest Lowest Forecast Dates Unit Frequency
3.50 3.90 7.10 2.90 3.90 | 2014/04 1999 - 2014 Percent Monthly

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South Korea Unemployment Rate
LIST BY COUNTRY


CALENDAR GMT Country Event Reference Actual Previous Consensus Forecast
2014-01-14 11:00 PM South Korea
Unemployment Rate
Dec 2013 3.0% 2.9% 2.9% 3%
2014-02-11 11:00 PM South Korea
Unemployment Rate
Jan 2014 3.2% 3.1% (R) 3.0% 3.1%
2014-03-11 11:00 PM South Korea
Unemployment Rate
Feb 2014 3.9% 3.2% 3.2% 3.2%
2014-04-09 12:00 AM South Korea
Unemployment Rate
Mar 2014 3.51% 3.9% 3.7% 3.5%
2014-05-14 12:00 AM South Korea
Unemployment Rate
Apr 2014 3.5% 3.9%
2014-06-11 12:00 AM South Korea
Unemployment Rate
May 2014 3.6%
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Labour Last Previous Highest Lowest Forecast Unit
Unemployment Rate 3.50 2014-03-31 3.90 7.10 2.90 3.90 2014-04-30 Percent [+]
Population 50.00 2012-12-31 49.78 50.00 25.00 50.25 2013-12-31 Million [+]
Employed Persons 25524.00 2014-03-15 25644.00 25644.00 20275.00 25603.76 2014-04-30 Thousand [+]
Labour Costs 110.90 2013-05-15 107.40 115.30 86.30 110.57 2013-09-30 Index Points [+]
Labor Force Participation Rate 61.80 2014-03-15 61.40 63.40 48.50 63.08 2014-04-30 Percent [+]
Productivity 101.60 2013-08-15 103.00 124.10 93.10 98.07 2013-12-31 Index Points [+]
Unemployed Persons 928.00 2014-03-15 1033.00 1564.00 684.00 912.86 2014-04-30 Thousand [+]
Wages 3126967.00 2013-11-15 3180603.00 3180603.00 2460239.00 3181704.73 2014-03-31 KRW [+]
Wages in Manufacturing 3418613.00 2013-11-15 3464494.00 3487717.00 2520139.00 3440255.67 2014-03-31 KRW [+]
Retirement Age Men 60.00 2013-01-01 60.00 60.00 60.00 60.00 2013-12-31 [+]
Retirement Age Women 60.00 2013-01-01 60.00 60.00 60.00 60.00 2013-12-31 [+]
[+]


South Korea Unemployment Rate Falls in March

South Korea jobless rate decreased to 3.5 percent in March of 2014, after reaching a three-year high 3.9 percent in February, thanks to new jobs created in agriculture and social services.

The number of unemployed persons totaled 1,024 thousand people in March, which increased 141 thousand persons or 16.0 percent year-on-year.

The number of employed persons totaled 25,163 thousand persons in March, up by 649 thousand persons over a year earlier.

The wholesale and retail sector was the biggest job creator, adding 336,000 more jobs in March compared with a year earlier. On a monthly basis, agriculture added 204 thousand new jobs and services 196 thousand, while the wholesale and retail sector lost 77 thousand jobs. 

The number of regular employees increased 4.5 percent yoy to 12034 thousand while the number of daily and self-employed workers decreased by 1.8 percent and 0.3 percent, respectively.

Statistics Korea | Joana Taborda | joana.taborda@tradingeconomics.com
4/9/2014 10:11:43 AM

RECENT RELEASES

South Korea Unemployment Rate Hits 3-Year High
In February of 2014, South Korean seasonally adjusted jobless rate rose to 3.9 percent, up from 3.2 percent in the previous month. While the number of job seekers increased as the season for graduation and recruitment led more young people to actively look for job, the number of people in work hit its highest level in 15 years. Published on 2014-03-12

South Korea Unemployment Rate Edges Up in January
In January of 2014, South Korean jobless rate rose for the second straight month to 3.2 percent, up from a revised 3.1 percent in the last month of 2013. Published on 2014-02-12


Unemployment Rate | Notes
The unemployment rate can be defined as the number of people actively looking for a job divided by the labour force. Changes in unemployment depend mostly on inflows made up of non-employed people starting to look for jobs, of employed people who lose their jobs and look for new ones and of people who stop looking for employment.


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