South Korea Employment Falls 40,000 in May as Jobless Rate Holds at 2.9%
Updated
Updated · AASTOCKS.com · Jun 11
South Korea Employment Falls 40,000 in May as Jobless Rate Holds at 2.9%
3 articles · Updated · AASTOCKS.com · Jun 11
Summary
29.12 million South Koreans were employed in May, down 40,000 from a year earlier and marking the first annual decline since December 2024.
The employment rate for people aged 15 and over fell 0.5 percentage point to 63.3%, extending April's 0.2-point drop for a second straight monthly decline.
878,000 people were unemployed on a non-seasonally adjusted basis, leaving the jobless rate at 2.9%—flat from April but 0.1 point higher than a year earlier.
Seasonally adjusted unemployment also held steady month on month at 2.8%, with the annual uptick suggesting labor-market softness is broadening beyond a single month.