Extra! Korea

March 16, 2010

What’s Korea’s unemployment rate, 4.8% or 10.36%?

Filed under: economics — extrakorea @ 1:55 pm

According to this KBS article, South Korea’s unemployment rate this past January was 4.8%. However, a Korea Times article states that the “real” unemployment rate (which takes into account people who have given up looking for work, or are studying or taking vocational courses) is much higher, 10.36%. It also notes that from among the OECD’s 22 member countries, Korea had the highest increase in unemployment from December 2009 to January 2010.

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2 Comments »

  1. The same thing applies to other countries as well: In the US, if you’ve given up on looking for a job, you’re no longer considered a part of the unemployed stats.

    Comment by kushibo — March 17, 2010 @ 6:00 am

    • Nobody said that it was Korea-specific.

      Comment by extrakorea — March 17, 2010 @ 3:49 pm


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