The unemployment rate in South Korea dropped to 3.7 percent in February 2019, compared to 4.4 percent in January 2019 and market expectations of 3.9 percent. It was the lowest jobless rate in eight months. The number of unemployed went down by 192 thousand to 1.033 million, whereas the number of employed climbed by 137 thousand to 27.059 million. The labor force participation rate fell to 63.3 percent from 63.5. Unemployment Rate in South Korea averaged 3.65 percent from 1999 until 2019, reaching an all time high of 7.10 percent in June of 1999 and a record low of 3 percent in September of 2002.

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 2020, according to our econometric models.

South Korea Unemployment Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-12-11 11:00 PM Unemployment Rate 3.8% 3.9% 3.9%
2019-01-08 11:00 PM Unemployment Rate 3.8% 3.8% 3.90%
2019-02-12 11:00 PM Unemployment Rate 4.4% 3.8% 3.90%
2019-03-12 11:00 PM Unemployment Rate 3.7% 4.4% 3.9% 3.90%
2019-04-09 11:00 PM Unemployment Rate 3.7% 3.90%
2019-05-14 11:00 PM Unemployment Rate 3.80%
2019-06-11 11:00 PM Unemployment Rate 3.80%


South Korea Labour Last Previous Highest Lowest Unit
Unemployment Rate 3.70 4.40 7.10 3.00 percent [+]
Employed Persons 27059.00 26922.00 27059.00 20268.00 Thousand [+]
Unemployed Persons 1033.00 1225.00 1546.00 691.00 Thousand [+]
Labor Force Participation Rate 62.30 61.90 63.90 48.50 percent [+]
Productivity 109.80 109.20 109.80 53.50 Index Points [+]
Labour Costs 109.40 96.50 149.40 91.30 Index Points [+]
Wages 3359019.00 3737254.00 3917383.00 2460239.00 KRW/Month [+]
Wages in Manufacturing 3922407.00 4067903.00 4562783.00 2520139.00 KRW/Month [+]
Minimum Wages 8350.00 7530.00 8350.00 600.00 KRW/Hour [+]
Population 51.45 51.25 51.45 25.01 Million [+]
Retirement Age Women 60.00 60.00 60.00 55.00 [+]
Retirement Age Men 60.00 60.00 60.00 55.00 [+]
Youth Unemployment Rate 9.30 8.70 13.40 3.80 percent [+]
Employment Rate 60.10 61.40 61.60 56.10 percent [+]


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. This page provides - South Korea Unemployment Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. South Korea Unemployment Rate - actual data, historical chart and calendar of releases - was last updated on March of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
3.70 4.40 7.10 3.00 1999 - 2019 percent Monthly
SA




Country Last Previous
South Africa 27.10 Dec/18
Spain 14.45 Dec/18
Turkey 13.50 Dec/18
Brazil 12.00 Jan/19
Italy 10.50 Jan/19
Argentina 9.10 Dec/18
France 8.80 Dec/18
Euro Area 7.80 Jan/19
India 6.10 Dec/18
Saudi Arabia 6.00 Sep/18
Canada 5.80 Feb/19
Indonesia 5.34 Sep/18
Australia 4.90 Feb/19
Russia 4.90 Feb/19
United Kingdom 3.90 Jan/19
China 3.80 Dec/18
United States 3.80 Feb/19
South Korea 3.70 Feb/19
Mexico 3.60 Jan/19
Netherlands 3.40 Feb/19
Germany 3.20 Jan/19
Switzerland 2.70 Feb/19
Japan 2.50 Jan/19
Singapore 2.20 Dec/18


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