South Korea’s seasonally adjusted unemployment rate stood at 2.8% in May 2026, unchanged from April. The economy lost 40,000 jobs during the month, the first decline in employment in 17 months, amid economic uncertainty, bringing total employment to 29.120 million. Job gains exceeded 200 thousand in February and March before falling to 74 thousand in April. A decline in employment came amid persistent weakness in mining & manufacturing and construction. Employment also dropped in agriculture, forestry & fishing, as well as wholesale & retail trade and accommodation & food services. Meanwhile, gains were recorded in electricity, transport, communication & finance, and business, personal, and public services. The youth employment rate declined to 43.8%, down 2.4 percentage points from a year earlier. Meanwhile, the number of unemployed increased to 878,000 in May, up 25,000 or 3.0% year-on-year. The labor force participation rate fell to 62.5%, from 62.7% in April. source: Statistics Korea
Unemployment Rate in South Korea remained unchanged at 2.80 percent in May. Unemployment Rate in South Korea averaged 3.52 percent from 1999 until 2026, reaching an all time high of 7.10 percent in June of 1999 and a record low of 2.40 percent in August of 2023. 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 June of 2026.
Unemployment Rate in South Korea remained unchanged at 2.80 percent in May. Unemployment Rate in South Korea is expected to be 2.80 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 3.10 percent in 2027, according to our econometric models.