South Korea Unemployment Rate

South Korea's seasonally adjusted unemployment rate rose to 2.7% in October 2024, marking an increase for the second consecutive month, up from 2.5% in September. The number of unemployed individuals grew by 51,000, or 8.5%, compared to the same month last year, bringing the total to 678,000. Meanwhile, employment saw a modest increase, with the number of employed persons rising by 83,000, or 0.3%, to reach 28.847 million. The seasonally adjusted labor force participation rate held steady at 64.7% in October, unchanged from the same period a year earlier.