South Korea Unemployment rate (annual) in South Korea

International Monetary Fund · Annual · Importance

IMF forecast (WEO): 2026: 2.8% 2027: 2.9% 2028: 2.8% 2029: 2.8% 2030: 2.8% 2031: 2.8%
6.6% (1999) ANUAL · % · Annual · CSV
Period%
Jan 1999 6.6%
Jan 1998 7.0%
Jan 1997 2.6%
Jan 1996 2.1%
Jan 1995 2.1%
Jan 1994 2.5%
Jan 1993 2.9%
Jan 1992 2.5%
Jan 1991 2.5%
Jan 1990 2.5%

About this indicator

Source
International Monetary Fund
Frequency
Annual
Release
Published annually, covering the full year and subject to revision.
What it is
Measures the share of South Korea's labour force that is unemployed and actively seeking work. Published by Statistics Korea (KOSTAT), it is the benchmark indicator of the South Korean labour market.
How it's calculated
Calculated as the unemployed as a percentage of the labour force, following the ILO definition, from the monthly economically active population survey. The annual figure averages the monthly results.
Market implications
In an advanced, export-driven economy, a low and stable rate signals a tight labour market that supports consumption. The Bank of Korea watches it alongside inflation when setting rates, and surprises can move the won and equities.
Limitations
The rate understates underutilisation as it misses discouraged workers and extensive youth and female underemployment. It shows marked seasonality, so the seasonally adjusted reading is more informative than the raw one.