South Korea’s seasonally adjusted unemployment rate remained unchanged at 3.8 percent in December 2018. It put an end to three consecutive months of declines. The jobless rate currently stands at a 5-month low. In December, the number of unemployed fell by 5 thousand to 1.059 million and the number of employed decreased by 77 thousand to 26.889 million. The seasonally-adjusted economic activity participation rate dropped to 63.1 percent from 63.3 percent. The jobless rate was at 3.7 percent in December of 2017. Unemployment Rate in South Korea averaged 3.65 percent from 1999 until 2018, 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 3.70 percent in 2020, according to our econometric models.

South Korea Unemployment Rate
width
height
Forecast Data Chart
Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.


Calendar GMT Actual Previous Consensus TEForecast
2018-10-11 11:00 PM Unemployment Rate 4% 4.2% 3.8%
2018-11-13 11:00 PM Unemployment Rate 3.9% 4% 4.1%
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 3.8% 3.90%
2019-03-12 11:00 PM Unemployment Rate 3.90%
2019-04-09 11:00 PM Unemployment Rate 3.90%


South Korea Labour Last Previous Highest Lowest Unit
Unemployment Rate 3.80 3.80 7.10 3.00 percent [+]
Employed Persons 26889.00 26966.00 26966.00 20268.00 Thousand [+]
Unemployed Persons 1059.00 1064.00 1546.00 691.00 Thousand [+]
Labor Force Participation Rate 62.20 63.40 63.90 48.50 percent [+]
Productivity 109.20 105.60 109.70 53.50 Index Points [+]
Labour Costs 96.50 127.70 149.40 91.30 Index Points [+]
Wages 3737254.00 3457189.00 3917383.00 2460239.00 KRW/Month [+]
Wages in Manufacturing 4067903.00 3692181.00 4562783.00 2520139.00 KRW/Month [+]
Minimum Wages 7530.00 6470.00 7530.00 600.00 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 8.60 8.10 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 January of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
3.80 3.80 7.10 3.00 1999 - 2018 percent Monthly
SA




Country Last Previous
South Africa 27.50 Sep/18
Spain 14.55 Sep/18
Brazil 11.60 Nov/18
Turkey 11.60 Oct/18
Italy 10.50 Nov/18
France 9.10 Sep/18
Argentina 9.00 Sep/18
Euro Area 7.90 Nov/18
Saudi Arabia 6.00 Jun/18
Canada 5.60 Dec/18
Indonesia 5.34 Sep/18
Australia 5.10 Nov/18
Russia 4.80 Nov/18
United Kingdom 4.10 Oct/18
United States 3.90 Dec/18
China 3.82 Sep/18
South Korea 3.80 Dec/18
Netherlands 3.60 Dec/18
India 3.52 Dec/17
Germany 3.30 Nov/18
Mexico 3.30 Nov/18
Switzerland 2.70 Dec/18
Japan 2.50 Nov/18
Singapore 2.10 Sep/18


Related

Latest