South Korea's unemployment hits record low in May

image

South Korea's unemployment hits record low in May

South Korea’s unemployment rate fell by 2.5 percent in May. South Korea’s unemployment rate hit a record low of 2.5 percent in May, a level last seen in August 2022. Government data showed that the number of employed people increased by 1.2 percent year-on-year to 28.84 million in May. The employment-to-population ratio increased by 0.5 percentage points year-on-year to 63.5 percent in May. In addition, the number of unemployed people decreased by 11.5 percent year-on-year to 787,000 in May.