The seasonally adjusted unemployment rate in South Korea posted at 2.9% in July 2022, unchanged from the previous month and remaining below 3% for the sixth straight month, suggesting the job market is holding up well in the face of high inflation and rising interest rates. The country also reported job additions for the 17th consecutive month in July, but the pace of job growth slowed from the previous month amid heightened economic uncertainties. The number of employed people stood at 28.48 million last month, up 826,000 from a year earlier, which was lower than the 841,000 job additions recorded in June. source: Statistics Korea
Unemployment Rate in South Korea averaged 3.65 percent from 1999 until 2022, reaching an all time high of 7.10 percent in June of 1999 and a record low of 2.70 percent in February of 2022. This page provides - South Korea Unemployment Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. South Korea Unemployment Rate - data, historical chart, forecasts and calendar of releases - was last updated on August of 2022.
Unemployment Rate in South Korea is expected to be 3.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the South Korea Unemployment Rate is projected to trend around 3.60 percent in 2023, according to our econometric models.