The unemployment rate in South Korea edged down to 3.7 percent in June of 2021 from 3.8 percent in the previous month and compared with 4.2 percent in the same month of the prior year. The number of unemployed declined by 24 thousand to 1.049 million, while the number of employed rose by 18 thousand to 27.331 million. Meanwhile, the labor force participation rate was unchanged at 63.0. source: Statistics Korea

Unemployment Rate in South Korea averaged 3.68 percent from 1999 until 2021, 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. South Korea Unemployment Rate - data, historical chart, forecasts and calendar of releases - was last updated on July of 2021.

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 3.80 in 12 months time. In the long-term, the South Korea Unemployment Rate is projected to trend around 3.80 percent in 2022, according to our econometric models.

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South Korea Unemployment Rate

Actual Previous Highest Lowest Dates Unit Frequency
3.70 3.80 7.10 3.00 1999 - 2021 percent Monthly
SA


Calendar GMT Actual Previous Consensus TEForecast
2021-04-13 11:00 PM Mar 3.9% 4% 4.5%
2021-05-11 11:00 PM Apr 3.7% 3.9% 3.9%
2021-06-08 11:00 PM May 3.8% 3.7% 3.7%
2021-07-13 11:00 PM Jun 3.7% 3.8% 3.8%
2021-08-10 11:00 PM Jul 3.7%
2021-09-14 11:00 PM Aug
2021-10-12 11:00 PM Sep
2021-11-09 11:00 PM Oct


News Stream
South Korea Jobless Rate Ticks Down to 3.7%
The unemployment rate in South Korea edged down to 3.7 percent in June of 2021 from 3.8 percent in the previous month and compared with 4.2 percent in the same month of the prior year. The number of unemployed declined by 24 thousand to 1.049 million, while the number of employed rose by 18 thousand to 27.331 million. Meanwhile, the labor force participation rate was unchanged at 63.0.
2021-07-13
South Korea Unemployment Rate Rises to 3.8%
The unemployment rate in South Korea rose to 3.8 percent in May of 2021 from 3.7 percent in the previous month and compared with 4.3 percent in the same month of the prior year. The number of unemployed increased by 61 thousand to 1.073 million, while the number of employed went up by 101 thousand to 27.313 million. Meanwhile, the labor force participation rate rose to 63.7 percent from 63.0 percent in the prior month.
2021-06-08
South Korea Jobless Rate Drops to 8-month Low
The unemployment rate in South Korea fell to 3.7 percent in April of 2021 from 3.9 percent in the previous month and compared with 3.8 percent in the same month of the prior year. It was the lowest jobless rate since August 2020, as the number of unemployed declined by 63 thousand to 1.032 million, while the number of employed went up by 67 thousand to 27.212 million. Meanwhile, the labor force participation rate was unchanged at 62.7 percent.
2021-05-11
South Korea Jobless Rate Hits Seven-Month Low
The unemployment rate in South Korea edged down to 3.9 percent in March of 2021 from 4.0 percent in the previous month and compared to 3.8 percent in the same month of the prior year. It was the lowest jobless rate in seven months, as the number of unemployed declined by 32 thousand to 1.095 million, while the number of employed went up by 128 thousand to 27.145 million.
2021-04-13

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.