Infra-Annual Labor Statistics: Unemployment Rate Total: From 15 to 64 Years for Slovak Republic
Annual, Not Seasonally Adjusted
LRUN64TTSKA156N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5.45
Year-over-Year Change
-60.92%
Date Range
1/1/1999 - 1/1/2024
Summary
The 'Annual, Not Seasonally Adjusted' trend measures the unemployment rate in South Korea over a 12-month period. This key labor market indicator is crucial for policymakers and economists to assess economic conditions and guide policy decisions.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This annual, not seasonally adjusted unemployment rate for South Korea represents the percentage of the total labor force that is jobless, expressed on a yearly basis without seasonal adjustments. It is a widely tracked metric for evaluating the overall health of the South Korean economy.
Methodology
The data is collected through household surveys conducted by the South Korean government.
Historical Context
The unemployment rate is a critical input for monetary and fiscal policy decisions made by the Bank of Korea and other government institutions.
Key Facts
- South Korea's annual unemployment rate averaged 3.7% from 2010-2019.
- The unemployment rate peaked at 5.4% in 2020 due to the COVID-19 pandemic.
- South Korea has one of the lowest unemployment rates among OECD countries.
FAQs
Q: What does this economic trend measure?
A: This trend measures the annual, not seasonally adjusted unemployment rate in South Korea, representing the percentage of the total labor force that is jobless over a 12-month period.
Q: Why is this trend relevant for users or analysts?
A: The South Korean unemployment rate is a key indicator of the overall health of the labor market and economy, providing crucial insights for policymakers, businesses, and economists.
Q: How is this data collected or calculated?
A: The data is collected through household surveys conducted by the South Korean government.
Q: How is this trend used in economic policy?
A: The unemployment rate is a critical input for monetary and fiscal policy decisions made by the Bank of Korea and other government institutions.
Q: Are there update delays or limitations?
A: The data is published annually without seasonal adjustments, so there may be a delay in the most recent observations being available.
Related Trends
Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Restaurants and Hotels for Slovak Republic
SVKCPHP1100IXOBM
Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Electricity, Gas and Other Fuels for Slovak Republic
SVKCPHP0405IXOBM
Infra-Annual Labor Statistics: Employment Male: From 15 to 74 Years for Slovak Republic
LFEM74MASKA647N
Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Services for Slovak Republic
SVKCPGRSE01GYM
Consumer Price Index: Restaurants and Hotels (COICOP 11): Total for Slovak Republic
SVKCP110000GPM
Consumer Price Index: Harmonized Prices: Clothing and Footwear (COICOP 03): Total for Slovak Republic
SVKCPHP0300IXEBM
Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (LRUN64TTSKA156N), retrieved from FRED.