Unemployment in Korea

Korea Unemployment | Economic News & Forecasts

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 Rate3.6  3.7  3.7  3.8  3.8  

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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

Value Change Date
Bond Yield1.681.55 %Dec 31
Exchange Rate1,1560.21 %Dec 31

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