Unemployment in Korea

Korea Unemployment | Economic News & Forecasts

Korea - Unemployment

The economy seems to have remained on feeble footing in the second quarter. Exports plunged in June, largely on a sharp fall in semiconductor sales, while the PMI was stuck in contractionary territory, stymied by shrinking demand. Consequently, consumers and businesses remained decidedly pessimistic in June and for July, respectively. In early June, the government released its economic agenda for H2, which spelled out plans to spend nearly three-quarters of the supplementary budget in the first two months, spur investment and expand tax incentives in a bid to boost domestic demand and revive the flagging external sector. In the political arena, while Japanese restrictions on exports to Korea of several high-tech smartphone materials will likely further hamper the economy, its unintended consequence of boosting semiconductor prices should aid Korean tech firms in the short-term.

Korea - Unemployment Data

2013  2014  2015  2016  2017  
Unemployment Rate3.1  3.5  3.6  3.7  3.7  

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Korea Unemployment Chart

Korea Unemployment
Note: Unemployment in % of active population.
Source: Korea National Statistics Office and FocusEconomics calculations.

Korea Facts

Bond Yield1.551.55 %Jul 11
Exchange Rate1,1740.21 %Jul 11
Stock Market2,081-0.40 %Jul 11

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