South Korea’s unemployment rate was 2.8% in April, down 0.2% year on year

May 22, 2023

< Economically active population and labor force participation rate >
◦ The economically active population marked 29.236 million persons in April, which grew 294 thousand persons or 1.0% year-on-year.
◦ The labor force participation rate stood at 64.4% in April, up 0.4%p year-on-year.

< Employed persons and employment to population ratio >
◦ The number of employed persons totaled 28.432 million persons in April, which went up 354 thousand persons or 1.3% year-on-year.
◦ The employment to population ratio recorded 62.7% in April, up 0.6%p year-on-year.

< Unemployed persons and unemployment rate >
◦ The number of unemployed persons totaled 804 thousand people in April, which decreased 59 thousand persons or 6.9% year-on-year.
◦ The unemployment rate marked 2.8% in April, down 0.2%p year-on-year.

< Economically inactive population >
◦ The economically inactive population totaled 16.135 million people in April, decreasing 156 thousand persons or 1.0% year-on-year.

Source: Statistics Korea
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither Karen Audit nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.