The seasonally adjusted unemployment rate in South Korea increased to 3.2 percent in October of 2021 from 3 percent in the previous month, marking the highest jobless rate in three months. Unemployed persons rose by 32 thousand MoM to 788 thousand in October. There were 652,000 jobs added in October from a year earlier, lower than the 671,000 additional jobs recorded in the previous month. However, it marked the 8th straight month of annual job growth despite a resurgence in coronavirus cases, signaling a healthy job recovery from pandemic lows. source: Statistics Korea

Unemployment Rate in South Korea averaged 3.67 percent from 1999 until 2021, reaching an all time high of 7.10 percent in June of 1999 and a record low of 2.80 percent in August of 2021. 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 December of 2021.

Unemployment Rate in South Korea is expected to be 4.20 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 3.80 percent in 2022, according to our econometric models.

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South Korea Unemployment Rate


Calendar GMT Actual Previous Consensus TEForecast
2021-10-12 11:00 PM Sep 3% 2.8% 2.7%
2021-11-09 11:00 PM Oct 3.2% 3% 3%
2021-12-14 11:00 PM Nov


Related Last Previous Unit Reference
Unemployment Rate 3.20 3.00 percent Oct/21
Employed Persons 27472.00 27454.00 Thousand Oct/21
Unemployed Persons 900.00 849.00 Thousand Oct/21
Labor Force Participation Rate 63.20 63.00 percent Oct/21
Employment Rate 61.30 61.20 percent Sep/21

News Stream
South Korea Unemployment Rate at 3-Month High
The seasonally adjusted unemployment rate in South Korea increased to 3.2 percent in October of 2021 from 3 percent in the previous month, marking the highest jobless rate in three months. Unemployed persons rose by 32 thousand MoM to 788 thousand in October. There were 652,000 jobs added in October from a year earlier, lower than the 671,000 additional jobs recorded in the previous month. However, it marked the 8th straight month of annual job growth despite a resurgence in coronavirus cases, signaling a healthy job recovery from pandemic lows.
2021-11-09
South Korea Jobless Rate Edges Up in September
The seasonally adjusted unemployment rate in South Korea increased to 3 percent in September of 2021 from 2.8 percent in the previous month, which was the lowest on record. Unemployed persons rose by 55 thousand to 849 thousand. There were 671,000 jobs to added last month, compared to 518,000 a month earlier. It marked the largest job additions since March 2014, signaling the labor market recovery continued despite the fourth wave of the pandemic.
2021-10-12
South Korea Jobless Rate Hits Record Low
The seasonally adjusted unemployment rate in South Korea decreased to 2.8 percent in August of 2021 from 3.3 percent in the previous month. It was the lowest jobless rate since the series began in 1999, as unemployed persons fell by 136 thousand to 794 thousand. There were 518,000 jobs added last month, compared to 542,000 a month earlier.
2021-09-14

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.