South Korea Jobless Rate Down in March


South Korea seasonally adjusted unemployment rate decreased to 3.7 percent in March of 2015 from 3.9 percent in the previous month, as the number of employed persons increased.

On an unadjusted basis, the unemployment rate rose to 4.0 percent from 4.6 percent in the preceding month. The number of unemployed persons decreased to 1,076 thousand in March as compared to 1,203 thousand in the preceding month.

The number of employed persons totaled 25,501 thousand, up from 25,195 thousand in the previous month. From February to March, employment in agriculture increased the most by 221 thousand, followed by the business, personal, public service & others (+157 thousand), and the construction sector (+45 thousand). In contrast, job losses were recorded for: the wholesale & retail trade, accommodation & food (-85 thousand), the manufacturing sector (-33 thousand), the mining (-31 thousand) and the electricity, transport, telecom and finance (- 3 thousand).

The labor force increased to 26.58 million in March from 26.39 million in February.

Year-on-year, employment rose 1.3 percent and unemployment went up 5.1 percent. The economically active population increased by 1.5 percent and the inactive population rose to 0.7 percent. 

South Korea Jobless Rate Down in March


Statistics Korea l Rida Husna l rida@tradingeconomics.com
4/15/2015 11:22:16 AM