South Korea Unemployment Rate Up to 3.5% in February


In South Korea, the unemployment rate rose to 3.5 percent (seasonally adjusted) in February of 2013, from 3.2 percent in the previous month. It is the highest value recorded since February of 2012, mainly due to an increase in job-searching activity by college graduates after graduation in February.

The economically active population marked 24,973 thousand in February, which grew 148 thousand persons or 0.6 percent year-on-year.

The labor force participation rate stood at 59.6 percent in February, down 0.4%p year-on-year.

The number of employed persons totaled 23,984 thousand persons in February, which went up 201 thousand persons or 0.8 percent year-on-year.

The employment-population ratio recorded 57.2 percent in February, down 0.3%p year-on-year.

The number of unemployed persons totaled 990 thousand people in February, which decreased 53 thousand persons or 5.1 percent year-on-year.

The unemployment rate marked 4.0 percent in February, down 0.2%p year-on-year. Seasonally adjusted, the unemployment rate increased to 3.5 percent year-on-year.

The economically inactive population totaled 16,953 thousand people in February, increasing 409 thousand persons or 2.5 percent year-on-year.


Korea National Statistical Office | Joana Taborda | joana.taborda@tradingeconomics.com
3/13/2013 9:42:24 AM