The number of temporary workers in South Korea reported a decline of 1.8% year over year to 4.76 million in October 2022, according to data from Statistics Korea.

When compared to the previous month the number of temporary workers in South Korea fell by 1.75%.

Labour market data from Statistics Korea showed that the unemployment rate stood at 2.4% in October, down 0.4% year-on-year. On a seasonally adjusted basis, the unemployment rate also stood at 2.8% in October 2022, down from 3.2% in October 2021.

The number of unemployed persons totalled 692,000 people in October, which decreased 95,000 persons or 12.1% year-on-year.

The number of employed persons totalled 28.42 million persons in October, which went up 677,000 persons or 2.4% year-on-year.

The employment to population ratio recorded 62.7% in October, up 1.3% year-on-year.

The economically active population marked 29.11 million persons in October, which grew 582 thousand persons or 2.0% year-on-year. The economically inactive population totalled 16.19 million people in October, decreasing 428,000 persons or 2.6% year-on-year.

South Korea’s labour force participation rate stood at 64.3% in October, up 1.1% year-on-year.