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. 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 September of 2021.

Unemployment Rate in South Korea is expected to be 3.90 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

Actual Previous Highest Lowest Dates Unit Frequency
2.80 3.30 7.10 2.80 1999 - 2021 percent Monthly
SA


Calendar GMT Actual Previous Consensus TEForecast
2021-06-08 11:00 PM May 3.8% 3.7% 3.7%
2021-07-13 11:00 PM Jun 3.7% 3.8% 3.8%
2021-08-10 11:00 PM Jul 3.3% 3.7% 3.7%
2021-09-14 11:00 PM Aug 2.8% 3.3% 3.7%
2021-10-12 11:00 PM Sep 2.8%
2021-11-09 11:00 PM Oct
2021-12-14 11:00 PM Nov


News Stream
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 Jobless Rate Drops to 11-month Low
The unemployment rate in South Korea fell to 3.3 percent in July of 2021 from 3.7 percent in the previous month. It was the lowest jobless rate since August of 2020 even as the fallout from the coronavirus pandemic worsened during the summer.
2021-08-10
South Korea Jobless Rate Ticks Down to 3.7%
The unemployment rate in South Korea edged down to 3.7 percent in June of 2021 from 3.8 percent in the previous month and compared with 4.2 percent in the same month of the prior year. The number of unemployed declined by 24 thousand to 1.049 million, while the number of employed rose by 18 thousand to 27.331 million. Meanwhile, the labor force participation rate was unchanged at 63.0.
2021-07-13
South Korea Unemployment Rate Rises to 3.8%
The unemployment rate in South Korea rose to 3.8 percent in May of 2021 from 3.7 percent in the previous month and compared with 4.3 percent in the same month of the prior year. The number of unemployed increased by 61 thousand to 1.073 million, while the number of employed went up by 101 thousand to 27.313 million. Meanwhile, the labor force participation rate rose to 63.7 percent from 63.0 percent in the prior month.
2021-06-08

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.