South Korea Jobless Rate Edges Up to 2.8% in April

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.

South Korea’s seasonally adjusted unemployment rate inched up to 2.8% in April 2026 from March’s five-month low of 2.7%. The economy added 74,000 jobs during the month, marking the smallest increase in 16 months after job gains had exceeded 200,000 for two consecutive months, bringing total employment to 28.961 million. A smaller increase in employment came amid persistent weakness in mining & manufacturing, and construction. Employment also fell 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. Meanwhile, the number of unemployed fell to 853,000 in April, down 2,000 or 0.2% year-on-year. The labor force participation rate rose to 64.9%, from 64.6% in March.

South Korea’s seasonally adjusted unemployment rate declined to 2.7% in March 2026 from February's 2.9%, marking its lowest level since last October. The economy added 206,000 jobs during the month, surpassing 200,000 for the second straight month, though weakness in youth employment and the construction sector persisted. However, the new job gains were lower than in the previous month, bringing total employment to 28.795 million. Meanwhile, the number of unemployed fell to 884,000 in March, down 35,000 or 3.8% year-on-year. The labor force participation rate increased to 64.6% from 64.0% in February.