South Korea Jobless Rate Down to 3.5% in September


South Korea seasonally adjusted unemployment rate was recorded at 3.5 percent in September of 2015, slightly down from 3.6 percent in the previous month and beating market consensus. It is the lowest level since January this year.

On an unadjusted basis, the unemployment rate decreased to 3.2 percent from 3.4 percent in the preceding month and 3.2 percent a year earlier. The number of unemployed persons decreased to 866 thousand in September as compared to 923 thousand in the previous month.

The number of employed persons totaled 26,264 thousand in August 2015, up from 26,141 thousand in a month earlier. From August to September, employment in all sectors increased except in electricity, transport, telecom & finance. Employment in business, personal, public service & others rose the most by 72 thousand, followed by the manufacturing (+21 thousand); mining & manufacturing (+20 thousand); the construction (+18 thousand), the agriculture (+7 thousand) and wholesale & retail trade, accommodation & food (+6 thousand). Employment in electricity, transport, telecom and finance remain steady from a month earlier.

Year-on-year, employment rose 1.3 percent while unemployment went up to 1.9 percent. The economically active population marked 27,129 in September, up 1.4 percent from a year earlier, while the inactive population rose to 15.990, up 0.9 percent. The labor force participation rate stood at 62.9 percent in September, up 0.1 percentage point year-on-year.

South Korea Jobless Rate Down to 3.5% in September


Statistics South Korea l Rida Husna | rida@tradingeconomics.com
10/14/2015 3:46:12 AM