South Korea Unemployment Rate Edges Up in December


South Korea seasonally adjusted jobless rate rose to 3.5 percent in December of 2014, from 3.4 percent in the previous month as employment fell in agriculture, business and construction.

On an unadjusted basis, there were 886 thousand unemployed persons in December, compared with 818 thousand in November. 

The number of employed persons totaled 25384 thousand in December, down from 25,968 thousand in the previous month. From November to December, the agriculture sector lost 434 thousand jobs; employment in business and services decreased by 223 thousand; and less 36 thousand persons were employed in construction. 

The economically active population marked 26,270 thousand in December of 2014, up 2.1 percent year-on-year and the labor force participation rate stood at 61.5 percent up 0.6 percent. While employment rose 1.7 percent, the number of unemployed persons increased 14.6 percent year-on-year. The economically inactive population totaled 16458 thousand people in November of 2014, decreasing 78 thousand persons or 0.5 percent. In December of 2013, the unemployment rate was recorded at 3.1 percent.

South Korea Unemployment Rate Edges Up in December


Statistics Korea | Joana Taborda | joana.taborda@tradingeconomics.com
1/14/2015 11:01:53 AM