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South Korea Annual Unemployment Rate

South Korea's annual unemployment rate fell to 2.6% in 2024, down from 2.67% in 2023, according to World Bank. This represents a decrease of 0.07% from the previous year. South Korea has annual unemployment rate lower than the global median (2.60% vs median 5.23%). Compared with the median in Asia, South Korea is lower (2.60% vs regional median 4.05%) and ranks 36th out of 48 countries in Asia.

Yearly Historical Data (1991-2024)

(in %)
Year Annual Unemployment Rate (%)
2024 2.6%
2023 2.67%
2022 2.86%
2021 3.64%
2020 3.93%
2019 3.75%
2018 3.82%
2017 3.65%
2016 3.65%
2015 3.55%
2014 3.08%
2013 2.75%
2012 2.81%
2011 2.99%
2010 3.32%
2009 3.36%
2008 2.96%
2007 3.01%
2006 3.25%
2005 3.48%
2004 3.42%
2003 3.35%
2002 3.05%
2001 3.7%
2000 4.06%
1999 6.34%
1998 6.96%
1997 2.61%
1996 2.05%
1995 2.06%
1994 2.48%
1993 2.88%
1992 2.51%
1991 2.41%
South Korea Annual Unemployment Rate : Definition
Annual Unemployment Rate measures the percentage of South Korea's labor force that is looking for work but does not have a job.
Indicator Last Value Prior Value Period
Female Labor Force Rate 56.02% 56.04% 2024
Unemployment Rate 2.5% 2.6% Sep'25