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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
South KoreaSouth Korea Unemployment Rate climbed to 2.8% in July 2026
FMPMonthlyReleased August 2026
South Korea Unemployment Rate climbed to 2.8% in July 2026, released August 2026, up 0.1% from June's 2.7% reading. The reading matched expectations. Year-over-year, the indicator is up 0.3%. Over the past 3 months, Unemployment Rate averaged 2.75%, vs 2.8% in the prior 3-month window. The reading is in the 69th percentile of the trailing 24-month range.
Latest Release
2.8
Actual
2.8
Consensus
2.7
Previous
Median Absolute Error
±0.1 percentage points
across last 12 releases
Last Call
Aug 2026
Predicted: 2.78
Actual: 2.8
Error: -0.02
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Co-movement | Action |
|---|---|---|---|---|---|
| BTC/USD | ▲ Direct | +0.41 | CRYPTO | Moves with | → View |
| USD/KRW | ▲ Direct | +0.38 | FOREX | Moves with | → View |
| Hang Seng | ▲ Direct | +0.33 | INDEX | Moves with | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Unemployment Rate (South Korea) was reported at 2.8% in August 2026. This matched the market consensus of 2.8% exactly. The reading rose from the previous value of 2.7%. Trailing 12-month context per ETL data through August 2026. Over the past 12 months, the indicator has averaged 2.85%, ranging from 2.5% to 4% across 11 releases. This is classified as a medium-impact indicator released on a monthly basis.
WHY IT MATTERS
The trailing three releases averaged 2.77%, down from the prior three at 2.9%. Volatility over the past year (σ 0.39%) is higher than the prior year (σ 0.32%). In August readings over the past 3 years, Unemployment Rate has averaged 2.6%.
THE MODEL'S TAKE
Historically, this indicator is positively correlated with BTC/USD (Bullish BTC). A secondary relationship exists with USD/KRW, positively correlated (Bullish USD). Over the last 12 releases, the Sigmacast model's median absolute error is 0.1%.
WHAT TO WATCH NEXT
The next release is scheduled for September 8, 2026. Same-country events in the next 14 days include Consumer Confidence (Aug 24) and Business Confidence (Aug 25).
Auto-generated from current model state · Refreshes on each release · Last update August 2026.
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Unemployment Rate - KR
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About Unemployment Rate — South Korea
DEFINITION
The Unemployment Rate is a key economic indicator that measures the percentage of the total labor force that is currently without a job and actively seeking employment. It is used to assess the health of the job market and the overall state of the economy. A high unemployment rate can indicate a weak economy, while a low unemployment rate can suggest a strong and growing economy. This data is closely monitored by policymakers, businesses, and investors to make informed decisions and projections.
WHY THIS INDICATOR MATTERS
This release contributes to the broader macro picture used by cross-asset investors for positioning and risk management. Surprises against consensus can drive short-term moves, particularly when the print breaks an established trend. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Jul 2026): actual 2.8 %, consensus 2.8 %. Prior reading (Jun 2026): 2.7 %. Before that (May 2026): 2.8 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a similar reading versus the latest print. The 1-month and 3-month horizons disagree, suggesting a mixed signal. Trend-driven dynamics are the primary neutral force in the current projection. This indicator correlates most strongly with BTC/USD (Bullish BTC, r=0.41) — a useful reference for crypto-focused traders.
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EXPECTED ZONE
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