South Korea: Unemployment rate
* indicates monthly or quarterly data series
The most recent value is 2.9 percent as of June 2024, a decline compared to the previous value of 3 percent. Historically, the average for South Korea from June 1999 to June 2024 is 3.58 percent. The minimum of 2 percent was recorded in August 2023, while the maximum of 6.7 percent was reached in June 1999.
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* indicates monthly or quarterly data series
- Measure: percent
- Source: Korean Statistical Information Service
| Recent values | South Korea: Unemployment rate, percent |
|---|---|
| 2024 Jun | 2.9 |
| 2024 May | 3 |
| 2024 Apr | 3 |
| 2024 Mar | 3 |
| 2024 Feb | 3.2 |
| 2024 Jan | 3.7 |
| 2023 Dec | 3.3 |
| 2023 Nov | 2.3 |
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Definition: The unemployment rate represents the share of the labor force that is without work but available for and seeking employment.
| Related indicators | Latest | Reference | Measure |
|---|---|---|---|
| Labor force | 29.52 | 2023 | million people |
| Unemployment rate | 2.64 | 2023 | percent |
| Female unemployment | 2.68 | 2023 | percent |
| Male unemployment | 2.64 | 2023 | percent |
| Youth unemployment | 5.03 | 2023 | percent |
| Labor force participation | 64.51 | 2023 | percent |
| Labor force: percent female | 43.48 | 2023 | percent |
| Female labor force participation | 55.77 | 2023 | percent |
| Male labor force participation | 73.34 | 2023 | percent |
| Self-employment | 23.45 | 2022 | percent |
| Employment | 28.70 | 9/2023 | million employed people |
| Unemployment rate | 2.30 | 9/2023 | percent |
| Labor cost | 117.10 | Q3/2023 | index points |