Seasonally adjusted unemployment in South Korea fell to 2.5% in October from
2.6% in September, matching the May 2023 low, Statistics Korea said. Economists
say the drop largely reflects labor‑force exits rather than stronger hiring:
employed fell 50,000 month‑on‑month while the number of unemployed fell 29,000.
The semiconductor‑led export boom, driven by AI chip demand, has tightened
aggregate labor market conditions but has not produced broad‑based job growth;
labor‑intensive sectors and young workers remain under pressure and domestic
demand is muted.
