South Korea Jobless Rate Steady in April


South Korea seasonally adjusted unemployment rate was recorded at 3.7 percent in April of 2015, remaining unchanged from the previous month, as the number of employed persons increased despite job losses in the wholesale & retail trade, accommodation & food sector.

On an unadjusted basis, the unemployment rate rose to 3.9 percent from 4.0 percent in the preceding month. The number of unemployed persons decreased to 1,053 thousand in April as compared to 1,076 thousand in the preceding month.

The number of employed persons totaled 25,900 thousand, up from 25,501 thousand in the previous month. From March to April, employment in agriculture increased the most by 171 thousand, followed by the business, personal, public service & others (+1116 thousand), the construction sector (+61 thousand), mining & manufacturing (+56 thousand), manufacturing (+55 thousand) and electricity, transport, telecom & finance (+34 thousand). In contrast, job losses were recorded for the wholesale & retail trade, accommodation & food (-37 thousand).

Year-on-year, employment rose 0.8 percent in April while unemployment went up 3.9 percent. The economically active population marked 26,954 in April, up 0.9 percent from a year earlier, while the inactive population rose to 15.971, up 1.7 percent. The labor force participation rate stood at 62.8 percent in April, down 0.2 percentage points to 62.4 percent.

South Korea Jobless Rate Steady in April


Statistics Korea l Rida Husna l rida@tradingeconomics.com
5/13/2015 3:31:43 AM