South Korea’s unemployment rate stood at 2.7% in July, down 0.2% year-on-year according to labour market data from Statistics Korea.

The number of unemployed persons totalled 807,000 people in July, which decreased 30,000 persons or 3.5% year-on-year.

Meanwhile, the number of employed persons totalled 28.68 million persons in July, which went up 211,000 persons or 0.7% year-on-year.

At the same time, the employment to population ratio recorded 63.2% in July, up 0.3% year-on-year.

South Korea’s economically active population marked 29.49 million persons in July, which grew 182,000 persons or 0.6% year-on-year.

The country’s labour force participation rate stood at 65.0% in July, up 0.2% year-on-year.

South Korea’s economically inactive population totalled 15.907 million people in July, decreasing 40 thousand persons or 0.2% year-on-year.