South Korea Unemployment Rate Down to 3.1% in April


In South Korea, the seasonally adjusted unemployment rate fell to 3.1 percent in April of 2013, from 3.2 percent in the previous month, mainly due to creation of new jobs in the manufacturing and service sectors.

 
The unemployment rate marked 3.2 percent in April, down 0.3%p year-on-year. Seasonally adjusted, the unemployment rate decreased to 3.1 percent, the lowest value in four months.

The number of unemployed persons totaled 825 thousand people in April, which decreased 70 thousand persons or 7.8 percent year-on-year.
 
The economically active population marked 25 928 thousand in April, which grew 275 thousand persons or 1.1 percent year-on-year.
 
The labor force participation rate stood at 61.7 percent in April, down 0.2%p year-on-year.
 
The number of employed persons totaled 25 103 thousand persons in April, which went up 345 thousand persons or 1.4 percent year-on-year.
 
The employment-population ratio recorded 59.8 percent in April, up 0.1%p year-on-year.
 
The economically inactive population totaled 16,074 thousand people in April, increasing 269 thousand persons or 1.7 percent year-on-year.

Statistics Korea | Joana Taborda | joana.taborda@tradingeconomics.com
5/15/2013 9:13:33 AM