South Korea Unemployment Rate Unchanged at 3.5% in October


South Korean seasonally adjusted unemployment rate was stable at 3.5 percent in October of 2014 while the number of employed increased slightly compared to the previous month.

The number of non-seasonally adjusted unemployed people totaled 858 thousand in October, from 849 thousand in September. The number of non-seasonally adjusted employed persons totaled 25951 thousand, higher than September’s 25917 thousand employed persons.

Compared to October of 2013, the agriculture sector lost 146 thousand jobs while the manufacturing sector added 142 thousand jobs. The number of temporary employees increased to 5108 thousand from 4961 thousand persons a year earlier.

The economically active population marked 26809 thousand in October, growing by 541 thousand persons or 2.1 percent year-on-year. Those who are inactive were 15837 thousand, decreasing by 113 thousand persons or 0.7 percent compared to the previous year.The participation rate increased to 62.9 percent from 62.2 in the previous year.

South Korea Unemployment Rate Unchanged at 3.5% in October


Statistics Korea l Ricardo Martins l ricardo.martins@tradingeconomics.com
11/13/2014 8:33:08 PM