South Korea Unemployment Rate
Share of the labour force that is without work but available for and seeking employment.
Unemployment Rate in South Korea decreased to 2.70 percent in Aug 2026 from 2.80 percent in Jul 2026.
South Korea Unemployment Rate — History
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South Korea Unemployment Rate — analysis in simple words
Latest reading
Unemployment Rate in South Korea decreased to 2.70 percent in Aug 2026 from 2.80 percent in Jul 2026.
Over the last three months it rose once and fell twice.
Recent trend
A year earlier (Aug 2025) it was 2.8%, so the latest figure is 0.1 percentage points lower.
Over the past five years the average was 2.8%, with a range from 2.5% to 3.3%. The latest value is below that five-year average.
Historical context
This data series starts in Jan 1990 and has 440 monthly observations. The latest reading is higher than 18% of all of them.
The highest value on record is 8.2% (Jul 1998) and the lowest is 1.9% (Dec 1995). The long-run average is 3.4%.
Compared with other countries
Among 192 economies with recent data, South Korea ranks 162nd from the top. The median across all these economies is 5.1%, so South Korea is below the typical country.
Among 19 major economies tracked on this site it ranks 18th.
Within East Asia & Pacific (29 economies with data) it ranks 18th; the regional median is 3.0%.
IMF outlook
The IMF World Economic Outlook projects 2.8% in 2026 and 2.9% in 2027 for South Korea. Projections are forecasts, not actual data, and are revised as new information arrives.
Statistics
- Latest
- 2.7%Aug 2026
- Previous
- 2.8%
- 5-year average
- 2.8%
- Long-run average
- 3.4%since Jan 1990
- All-time high
- 8.2%Jul 1998
- All-time low
- 1.9%Dec 1995
- Observations
- 440Monthly
Recent Data
| Period | Value | Change |
|---|---|---|
| Aug 2026 | 2.7% | ▼ −0.1 pp |
| Jul 2026 | 2.8% | ▲ +0.1 pp |
| Jun 2026 | 2.7% | ▼ −0.1 pp |
| May 2026 | 2.8% | ■ 0.0 pp |
| Apr 2026 | 2.8% | ▲ +0.1 pp |
| Mar 2026 | 2.7% | ▼ −0.2 pp |
| Feb 2026 | 2.9% | ▼ −0.1 pp |
| Jan 2026 | 3.0% | ▼ −0.3 pp |
| Dec 2025 | 3.3% | ▲ +0.5 pp |
| Nov 2025 | 2.8% | ▲ +0.1 pp |
| Oct 2025 | 2.7% | ■ 0.0 pp |
| Sep 2025 | 2.7% | ▼ −0.1 pp |
| Aug 2025 | 2.8% | ▲ +0.1 pp |
| Jul 2025 | 2.7% | ■ 0.0 pp |
| Jun 2025 | 2.7% | ■ 0.0 pp |
| May 2025 | 2.7% | ■ 0.0 pp |
| Apr 2025 | 2.7% | ▼ −0.1 pp |
| Mar 2025 | 2.8% | ■ 0.0 pp |
| Feb 2025 | 2.8% | ■ 0.0 pp |
| Jan 2025 | 2.8% | ▼ −0.3 pp |
| Dec 2024 | 3.1% | ▲ +0.3 pp |
| Nov 2024 | 2.8% | ■ 0.0 pp |
| Oct 2024 | 2.8% | ▲ +0.2 pp |
| Sep 2024 | 2.6% | ■ 0.0 pp |
| Aug 2024 | 2.6% | ▼ −0.1 pp |
| Jul 2024 | 2.7% | ▼ −0.1 pp |
| Jun 2024 | 2.8% | ■ 0.0 pp |
| May 2024 | 2.8% | ■ 0.0 pp |
| Apr 2024 | 2.8% | ■ 0.0 pp |
| Mar 2024 | 2.8% |
Unemployment Rate — South Korea vs Peers
Latest available reading for each economy (periods may differ). South Korea highlighted.
More South Korea indicators
Understanding Unemployment Rate — a simple guide
What it measures
The share of the labour force that is without work but available for and actively seeking employment.
How it is calculated
Unemployment rate = number of unemployed people ÷ labour force × 100. The labour force includes everyone who is working or actively looking for work. People who are not looking for work (students, retirees) are not counted.
If 50 lakh people are looking for work out of a labour force of 10 crore, the unemployment rate is 5%.
A high or rising rate means more people cannot find jobs, which reduces household income and spending.
A low rate means most people who want a job have one. Very low unemployment can push wages and inflation higher.
Why it matters for the economy and markets
Unemployment reflects the health of the labour market, which drives household income and consumer spending. Central banks with employment mandates (such as the US Federal Reserve) watch it closely.
How to read it
Definitions differ by country; World Bank and IMF figures use harmonised ILO-based estimates for comparability. A low rate combined with rising wages can indicate a tight labour market.
What to look at alongside it
Labour force participation, wage growth, GDP growth and youth unemployment.
Key terms
- Labour force
- People who are employed plus those actively seeking work.
- ILO definition
- The International Labour Organization standard used to make figures comparable across countries.
- Participation rate
- Share of the working-age population in the labour force.
Data source
OECD — Organisation for Economic Co-operation and Development (series OECD unemployment (SA)), monthly data from Jan 1990 to Aug 2026. Values are shown exactly as published by the source and may be revised later.
How to use the chart
Use the 5Y / 10Y / 25Y / Max buttons to change the time range, or drag the slider under the chart. Hover (or tap) on the line to see the exact value for any period. Dashed lines and hatched bars are IMF projections, not actual data. The “Download CSV” button gives you the full data series.
Frequently asked questions
What is the current unemployment rate of South Korea?
What is the highest and lowest unemployment rate of South Korea?
What is the IMF projection for South Korea unemployment rate?
What does unemployment rate measure?
Data are sourced from official international organisations (IMF, World Bank, BIS) and national authorities, and are shown for educational and informational purposes only. They are not investment advice and no recommendation is made. Figures may be revised by the source; IMF figures for the current and future years are projections. This page was last updated on Saturday, October 17, 2026.