- 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.
SOUTH KOREA: Unemployment Rises
Last updated at:Nov-12 23:18By: Jamie Grant
South Korea
- 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.
