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SOUTH KOREA: Unemployment Rises 

SOUTH KOREA
GlobalEM BulletBulletSouth KoreaAPACEmerging Market NewsRegion
  • The unemployment rate for October rose to 2.7% from 2.6% in September.
  • The 5y average of +3.2% captures the COVID period, where unemployment rose to +4.8%. 
  • The post COVID period from early 2022 sees the average decline to +2.8%.   
  • The manufacturing sector adjustment continues to be a major contributor to the unemployment outcome.
  • Having cut 22k of jobs in September, early indications for the sector are that this trend is continuing given October's decline in exports. 
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  • The unemployment rate for October rose to 2.7% from 2.6% in September.
  • The 5y average of +3.2% captures the COVID period, where unemployment rose to +4.8%. 
  • The post COVID period from early 2022 sees the average decline to +2.8%.   
  • The manufacturing sector adjustment continues to be a major contributor to the unemployment outcome.
  • Having cut 22k of jobs in September, early indications for the sector are that this trend is continuing given October's decline in exports.