South Korea Jobless Rate Steady at 3.4%


South Korea seasonally adjusted unemployment rate was recorded at 3.4 percent in November of 2015, unchanged from the previous month and staying at its lowest level since January this year. While employment rose sharply, unemployment increased at a slower pace following four consecutive monthly falls. Economists had forecast the jobless rate to increase slightly to 3.5 percent.

The number of employed persons went up by 34 thousand to 26.052 million and unemployment increased by 15 thousand to 928 thousand. The labour force participation rate declined to 62.7 percent, its lowest level since March this year. In November of 2014, the unemployment was 3.4 percent.

On an unadjusted basis, the unemployment was recorded at 3.1 percent in November, the same as in October. Employment rose by 285 thousand and the number of unemployed went up by 11 thousand. The labour force increased by 296 thousand.

 South Korea Jobless Rate Steady at 3.4%


Joana Ferreira | joana.ferreira@tradingeconomics.com
12/15/2015 11:29:15 PM