Unemployment in Korea
Korea - Unemployment
According to available data, economic conditions were fairly downbeat in the third quarter. The domestic market seemed frail, as retail sales growth eased in July–August, while industrial production continued to decline in annual terms in the same period. However, the external picture improved significantly in Q3 as exports fell at a much softer pace in the quarter as a whole, and returned to growth in annual terms in September, ending a six-month streak in the red. In other news, on 22 September, parliament approved a fourth supplementary budget of USD 6.7 billion to counter tighter social distancing restrictions. Later in the month, the government imposed new restrictions to coincide with the Chuseok and Hangul holidays in an attempt to contain an outbreak. The measures were then relaxed from the week starting 12 October, boding well for the economy heading into Q4.Korea - Unemployment Data
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| Unemployment Rate | 3.6 | 3.7 | 3.7 | 3.8 | 3.8 |
Korea Unemployment Chart
Source: Korea National Statistics Office and FocusEconomics calculations.
Korea Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 1.68 | 1.55 % | Dec 31 |
| Exchange Rate | 1,156 | 0.21 % | Dec 31 |
Sample Report
Get a sample report showing our regional, country and commodities data and analysis.
Request a Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
Economic News
-
Korea: BOK keeps rates at all-time low in October
October 14, 2020
At its meeting on 14 October, the Bank of Korea (BOK) kept the base rate at its record low of 0.50%, in line with market expectations. The Bank’s decision to hold came amid weak activity and a deteriorating labor market.
-
Korea: Inflation hits highest level since March in September
October 6, 2020
Consumer prices increased 0.66% in September over the previous month, slightly up from the 0.61% increase recorded in August.
-
Korea: Manufacturing PMI reaches eight-month high in September
October 5, 2020
The IHS Markit manufacturing Purchasing Managers’ Index (PMI) rose to 49.8 in September from August’s 48.5, bordering the 50-threshold that separates an improvement from a deterioration in the manufacturing sector over the previous month. The print came as output grew for the first time in seven months.
-
Korea: Merchandise exports rebound in September on stronger IT shipments
October 1, 2020
Merchandise exports rose 7.7% in annual terms in September, rebounding from August’s 10.1% decline, amid an increasing demand for IT products due to the pandemic boosting home working.
-
Korea: Business confidence steady in October
September 29, 2020
Business confidence in the manufacturing sector was unchanged at September's 68.0 in October.
© Copyright: 2020. | Korea Unemployment | Privacy Policy | Cookies Policy | Terms & Conditions | Sitemap | RSS feed
