The unemployment rate in South Korea jumped to 4.4 percent in January 2019 from 3.8 percent in December 2018 and 3.6 percent in January 2018. It was the highest jobless rate in nine years. The number of unemployed went up by 159 thousand to 1.225 million, whereas the number of employed climbed by 58 thousand to 26.922 million. The labor force participation rate jumped to 63.5 percent from 63.0. Unemployment Rate in South Korea averaged 3.65 percent from 1999 until 2019, reaching an all time high of 7.10 percent in June of 1999 and a record low of 3 percent in September of 2002.

Unemployment Rate in South Korea is expected to be 3.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Unemployment Rate in South Korea to stand at 3.70 in 12 months time. In the long-term, the South Korea Unemployment Rate is projected to trend around 3.80 percent in 2020, according to our econometric models.

South Korea Unemployment Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-11-13 11:00 PM Unemployment Rate 3.9% 4% 4.1%
2018-12-11 11:00 PM Unemployment Rate 3.8% 3.9% 3.9%
2019-01-08 11:00 PM Unemployment Rate 3.8% 3.8% 3.90%
2019-02-12 11:00 PM Unemployment Rate 4.4% 3.8% 3.90%
2019-03-12 11:00 PM Unemployment Rate 4.4% 3.90%
2019-04-09 11:00 PM Unemployment Rate 3.90%
2019-05-14 11:00 PM Unemployment Rate 3.80%


South Korea Labour Last Previous Highest Lowest Unit
Unemployment Rate 4.40 3.80 7.10 3.00 percent [+]
Employed Persons 26922.00 26889.00 26966.00 20268.00 Thousand [+]
Unemployed Persons 1225.00 1059.00 1546.00 691.00 Thousand [+]
Labor Force Participation Rate 61.90 62.20 63.90 48.50 percent [+]
Productivity 109.80 109.20 109.80 53.50 Index Points [+]
Labour Costs 109.40 96.50 149.40 91.30 Index Points [+]
Wages 3737254.00 3457189.00 3917383.00 2460239.00 KRW/Month [+]
Wages in Manufacturing 4067903.00 3692181.00 4562783.00 2520139.00 KRW/Month [+]
Minimum Wages 8350.00 7530.00 8350.00 600.00 KRW/Hour [+]
Population 51.45 51.25 51.45 25.01 Million [+]
Retirement Age Women 60.00 60.00 60.00 55.00 [+]
Retirement Age Men 60.00 60.00 60.00 55.00 [+]
Youth Unemployment Rate 8.70 8.60 13.40 3.80 percent [+]
Employment Rate 60.10 61.40 61.60 56.10 percent [+]


South Korea Unemployment Rate

In South Korea, the seasonally adjusted unemployment rate measures the number of people actively looking for a job as a percentage of the labour force. This page provides - South Korea Unemployment Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. South Korea Unemployment Rate - actual data, historical chart and calendar of releases - was last updated on February of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
4.40 3.80 7.10 3.00 1999 - 2019 percent Monthly
SA




Country Last Previous
South Africa 27.10 Dec/18
Spain 14.45 Dec/18
Turkey 12.30 Nov/18
Brazil 11.60 Dec/18
Italy 10.30 Dec/18
Argentina 9.00 Sep/18
France 8.80 Dec/18
Euro Area 7.90 Dec/18
India 6.10 Dec/18
Saudi Arabia 6.00 Sep/18
Canada 5.80 Jan/19
Indonesia 5.34 Sep/18
Australia 5.00 Dec/18
Russia 4.80 Dec/18
South Korea 4.40 Jan/19
United Kingdom 4.00 Nov/18
United States 4.00 Jan/19
China 3.80 Dec/18
Netherlands 3.60 Dec/18
Mexico 3.40 Dec/18
Germany 3.30 Dec/18
Switzerland 2.80 Jan/19
Japan 2.40 Dec/18
Singapore 2.20 Dec/18


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