South Korea Jobless Rate Up to 3.9% in May


South Korea seasonally adjusted unemployment rate was recorded at 3.9 percent in May of 2015, up from 3.7 percent in the previous month and missing market forecasts, as unemployment grew faster than employment.

Year-on-year, employment rose 1.5 percent in May while unemployment went up 7.5 percent. A year earlier, the jobless rate reached 3.7 percent.

On an unadjusted basis, the unemployment rate decreased to 3.8 percent in May from 3.6 percent a year earlier. The number of unemployed persons totaled 1,022 thousand, up 7.4 percent year-on-year. Employment rose 1.5 percent to 26,189 thousand and the labor force participation rate stood at 63.3 percent, up 0.3 percent. The economically inactive population totaled 15,764 thousand people in May, increasing 73 thousand persons or 0.5 percent year-on-year.

South Korea Jobless Rate Up to 3.9% in May


Statistics Korea l Rida Husna l rida@tradingeconomics.com
6/10/2015 12:39:26 PM