South Korea Jobless Rate Hits 2-Year Low

South Korea’s seasonally adjusted unemployment rate fell to 2.6% in September 2026 from 2.7% in August, reaching its lowest level since September 2024. The economy added 113,000 jobs, marking three consecutive months of gains over 100,000 and bringing total employment to 29.27 million. Human health and social work activities led job creation, adding 207,000 workers, while manufacturing rose by 16,000, its first increase since June 2024 and ending a 26-month streak of declines. In contrast, accommodation and food service employment fell by 97,000 for a second consecutive month, recording its largest decline since February 2021. Employment also fell in agriculture, forestry and fishing (-94,000) and construction (-48,000). Meanwhile, the number of unemployed people was 600,000, down 34,000 from the same month a year ago, while the economically inactive population increased by 179,000 to 16,188,000. Youth employment rate for those aged 15 to 29 was 44.0%, down 1.1 percentage points.

South Korea’s seasonally adjusted unemployment rate fell to 2.7% in August 2026 from 2.8% in the previous month. The economy added 184,000 jobs during the month, marking the third consecutive month of gain and the highest in five months, bringing total employment to 29.15 million from 28.96 million a year ago. Job growth turned positive again in June after declining by 40,000 in May, the first drop in 17 months. Employment gains were led by health and social welfare services (+186,000), followed by arts, sports and recreation (+73,000), and business facility management and support services (+45,000), while education (-24,000), manufacturing (-38,000), and agriculture, forestry and fishing (-109,000) continued to shed jobs. Meanwhile, the number of unemployed people totaled 588,000 in August, down 4,000 from a year earlier, while the economically inactive population rose by 77,000 to 16.30 million. Youth employment rate for those aged 15 to 29 fell to 44.1%, down 1.0 percentage points.

South Korea’s seasonally adjusted unemployment rate rose to 2.8% in July 2026 from 2.7% in the previous month. The economy added 108,000 jobs during the month, marking the second consecutive month of increase, bringing total employment to 29.14 million from 29.03 million a year earlier. Job growth remained in the 200,000 range in February and March before slowing to 74,000 in April and falling by 40,000 in May, the first decline in 17 months. Employment gains were driven by business, personal, public services, and others (+247,000) and electricity, transport, communication, and finance (+66,000), while manufacturing (-68,000), construction (-57,000), and agriculture, forestry, and fisheries (-80,000) continued to see job losses. Meanwhile, the number of unemployed people totaled 776,000 in July, up 50,000 yoy, while the number of economically inactive people rose by 158,000 year-on-year. The youth employment rate for people aged 15 to 29 fell to 44.2%, down 1.6 percentage points.