South Korea Jobless Rate Steady in January


South Korea seasonally adjusted unemployment rate came in at 3.5 percent in January of 2016, unchanged from an upwardly revised figure in December 2015 but slightly higher than 3.4 percent a year earlier.

On an unadjusted basis, the unemployment rate rose 3.7 percent in January 2016 from 3.2 percent in the preceding month and 3.8 percent a year earlier. The number of unemployed persons increased to 988 thousand in January 2016, as compared to 868 thousand in the previous month.

The number of employed persons totaled 25,445 thousand in January 2016, down from 25,879 thousand in a month earlier. From December 2015 to January 2016, employment rose the most for electricity, transport, telecom & finance (+33 thousand), followed by mining & manufacturing (+14 thousand) and manufacturing (+14 thousand). In contrast, employment fell the most for business, personal, public service & others (-261 thousand), followed by agriculture (-137 thousand), construction (-70 thousand) and wholesale & retail trade, accommodation & food (-12 thousand).

Year-on-year, employment rose 1.4 percent while unemployment dropped by 0.1 percent. The economically active population marked 26,443 in January, down from 1.3 percent from a year earlier. The inactive population rose to 16,806, up 0.7 percent. The labor force participation rate stood at 61.1 percent in January, up 0.1 percentage point from a year earlier.

South Korea Jobless Rate Steady in January


Statistics Korea l Rida Husna | rida@tradingeconomics.com
2/17/2016 4:04:27 AM