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.