South Korea Unemployment Rate

South Korea’s seasonally adjusted unemployment rate rose to 2.9% in March 2025 from 2.7% in February, marking the first increase in three months. The slight deterioration in employment conditions came ahead of the implementation of US President Donald Trump’s sweeping tariffs, which included a 25% levy on South Korean goods. South Korea is also set to hold its presidential election in June following the ouster of President Yoon over his brief imposition of martial law, reducing political uncertainty. The number of unemployed increased by 3% or 26,000 to .92 million in March from a year ago. Meanwhile, the labor force participation rate climbed to 64.6% in March, reflecting a 0.3% increase from the previous year.