The unemployment rate in South Korea rose to a six-month high of 4 percent in January 2020 from a downwardly revised 3.7 percent for the previous month. The number of unemployed increased by 79 thousand to 1.143 million, while the number of employed went up by 108 thousand to 27.503 million. The labour force participation rate advanced to 64.1 percent from 63.7 percent, and the employment rate climbed to 61.6 percent from 61.3 percent in December. South Korea Unemployment Rate - data, historical chart, and calendar of releases - was last updated on February of 2020 from its official source.

Unemployment Rate in South Korea averaged 3.65 percent from 1999 until 2020, reaching an all time high of 7.10 percent in June of 1999 and a record low of 3 percent in September of 2002. This page provides - South Korea Unemployment Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. source: Statistics Korea

Unemployment Rate in South Korea is expected to be 3.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Unemployment Rate in South Korea to stand at 3.70 in 12 months time. In the long-term, the South Korea Unemployment Rate is projected to trend around 3.80 percent in 2021 and 4.00 percent in 2022, according to our econometric models.


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South Korea Unemployment Rate

Actual Previous Highest Lowest Dates Unit Frequency
4.00 3.70 7.10 3.00 1999 - 2020 percent Monthly
SA


Calendar GMT Actual Previous Consensus TEForecast
2019-11-12 11:00 PM Oct 3.5% 3.4% 3.8% 3.7%
2019-12-10 11:00 PM Nov 3.6% 3.5% 3.6% 3.7%
2020-01-14 11:00 PM Dec 3.8% 3.6% 3.6% 3.7%
2020-02-11 11:00 PM Jan 4% 3.7% 3.8%
2020-03-10 11:00 PM Feb 4% 4.5%
2020-04-16 11:00 PM Mar 4.3%
2020-05-12 11:00 PM Apr
2020-06-09 11:00 PM May
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
South Korea Jobless Rate Jumps to 4%
The unemployment rate in South Korea rose to a six-month high of 4 percent in January 2020 from a downwardly revised 3.7 percent for the previous month. The number of unemployed increased by 79 thousand to 1.143 million, while the number of employed went up by 108 thousand to 27.503 million. The labour force participation rate advanced to 64.1 percent from 63.7 percent, and the employment rate climbed to 61.6 percent from 61.3 percent in December.
2020-02-11
South Korea Jobless Rate Climbs to 5-Month High
The unemployment rate in South Korea climbed to a five-month high of 3.8 percent in December 2019 from 3.6 percent for both the previous month and market expectations. The number of unemployed increased by 42 thousand to 1.068 million, while the number of employed rose by 117 thousand to 27.381 million. The labour force participation rate went up to 63.7 percent from 63.4 percent, and the employment rate climbed to 61.3 percent from 61.1 percent.
2020-01-14
South Korea Unemployment Rate Inches Up to 3.6%
The unemployment rate in South Korea edged up to 3.6 percent in November 2019, from 3.5 percent in the previous month and matching market expectations. The number of unemployed increased by 49 thousand to 1.026 million, while the number of employed rose by 7 thousand to 27.264 million. The labour force participation rate went up to 63.4 percent from 63.3 percent, and the employment rate remained unchanged at 61.1 percent.
2019-12-10
South Korea Jobless Rate Climbs to 3-Month High
The unemployment rate in South Korea edged up to 3.5 percent in October 2019, up from 3.4 percent in the previous month and compared to market expectations of 3.8 percent. The number of unemployed increased by 23 thousand to 0.977 million, while the number of employed jumped by 98 thousand to 27.257 million. The labour force participation rate rose to 63.3 percent from 63.1 percent, and the employment rate to 61.1 percent from 60.9 percent.
2019-11-12

South Korea Unemployment Rate
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.