South Korea's seasonally adjusted unemployment rate rose to 2.7% in October 2024, marking an increase for the second consecutive month, up from 2.5% in September. The number of unemployed individuals grew by 51,000, or 8.5%, compared to the same month last year, bringing the total to 678,000. Meanwhile, employment saw a modest increase, with the number of employed persons rising by 83,000, or 0.3%, to reach 28.847 million. The seasonally adjusted labor force participation rate held steady at 64.7% in October, unchanged from the same period a year earlier. source: Statistics Korea

Unemployment Rate in South Korea increased to 2.70 percent in October from 2.50 percent in September of 2024. Unemployment Rate in South Korea averaged 3.57 percent from 1999 until 2024, 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 November of 2024.

Unemployment Rate in South Korea increased to 2.70 percent in October from 2.50 percent in September of 2024. Unemployment Rate in South Korea is expected to be 3.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations.




Calendar GMT Reference Actual Previous Consensus TEForecast
2024-10-15 11:00 PM
Unemployment Rate
Sep 2.5% 2.4% 2.5%
2024-11-12 11:00 PM
Unemployment Rate
Oct 2.7% 2.5% 2.5%
2024-12-10 11:00 PM
Unemployment Rate
Nov


Related Last Previous Unit Reference
Employed Persons 28847.00 28842.00 Thousand Oct 2024
Employment Rate 63.30 63.30 percent Oct 2024
Labor Force Participation Rate 64.70 64.60 percent Oct 2024
Unemployed Persons 678.00 622.00 Thousand Oct 2024
Unemployment Rate 2.70 2.50 percent Oct 2024

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.
Actual Previous Highest Lowest Dates Unit Frequency
2.70 2.50 7.10 2.40 1999 - 2024 percent Monthly
SA


News Stream
South Korea Jobless Rate Climbs to 2.7% in October
South Korea's seasonally adjusted unemployment rate rose to 2.7% in October 2024, marking an increase for the second consecutive month, up from 2.5% in September. The number of unemployed individuals grew by 51,000, or 8.5%, compared to the same month last year, bringing the total to 678,000. Meanwhile, employment saw a modest increase, with the number of employed persons rising by 83,000, or 0.3%, to reach 28.847 million. The seasonally adjusted labor force participation rate held steady at 64.7% in October, unchanged from the same period a year earlier.
2024-11-12
South Korea Jobless Rate Rises to 2.5% in Sept
The seasonally adjusted unemployment rate in South Korea edged up to 2.5% in September 2024 from a one-year low of 2.4% in August. The number of unemployed persons declined by 39,000 or 5.9% year-on-year to 622,000. The number of employed persons also totaled 28.842 million, up 144,000 or 0.5% from a year ago. The seasonally adjusted labor force participation rate stood at 64.5% in September, remaining the same year-on-year.
2024-10-15
South Korea Jobless Rate Falls to 2.4% in August
The seasonally adjusted unemployment rate in South Korea edged down to 2.4% in August 2024 from 2.5% in July. It was the lowest reading in a year as the number of unemployed persons fell to 564K in August, a year-on-year decline by 9K or 1.6%. The number of employed persons also totaled 28.801 million in August, which went up 123K or 0.4% from a year earlier. The seasonally adjusted labor force participation rate stood at 63.2% in August, up 0.1% year-on-year.
2024-09-10