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. 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 May 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.