Free Trial
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
SOUTH KOREA
South Korea's June unemployment rate was steady at 2.8%, which was line with market forecasts. This is slightly up from cycle lows at 2.5%, seen in late 2023.
- This suggests a still reasonably tight labour market, although jobs growth remained sub 100k in y/y terms for the second straight month. In percentage change terms we are at 0.3% y/y for employment growth, matching the May pace, which is back near early 2021 levels from a momentum standpoint, see the chart below.
- At the margin this adds to the need for policy support in terms of the domestic economy via rate cuts, but given the unemployment rate is only marginally above cycle lows, there is no need for urgent BoK action.
Fig 1: South Korea Unemployment rate & Employment Growth Y/Y
Source: MNI - Market News/Bloomberg
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok