Labour Costs in South Korea increased to 118.60 points in the first quarter of 2021 from 103.80 points in the fourth quarter of 2020. source: Korea Productivity Center

Labour Costs in South Korea averaged 93.19 points from 2008 until 2021, reaching an all time high of 129.90 points in the first quarter of 2019 and a record low of 69 points in the second quarter of 2010. This page provides - South Korea Labour Costs - actual values, historical data, forecast, chart, statistics, economic calendar and news. South Korea Labour Costs - values, historical data and charts - was last updated on September of 2021.

Labour Costs in South Korea is expected to be 142.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the South Korea Labour Costs is projected to trend around 142.00 points in 2022, according to our econometric models.

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South Korea Labour Costs

Actual Previous Highest Lowest Dates Unit Frequency
118.60 103.80 129.90 69.00 2008 - 2021 points Quarterly
NSA, 2015=100

South Korea Labour Last Previous Highest Lowest Unit
Unemployment Rate 2.80 3.30 7.10 2.80 percent [+]
Employed Persons 27399.00 27351.00 27508.00 20268.00 Thousand [+]
Unemployed Persons 794.00 930.00 1546.00 695.00 Thousand [+]
Labor Force Participation Rate 62.80 63.40 64.20 48.50 percent [+]
Labour Costs 118.60 103.80 129.90 69.00 points [+]
Productivity 119.40 119.40 119.40 53.50 points [+]
Wages 3773068.00 4187464.00 4187464.00 2460239.00 KRW/Month [+]
Wages in Manufacturing 4022810.00 4710398.00 4710398.00 2520139.00 KRW/Month [+]
Minimum Wages 8720.00 8590.00 8720.00 600.00 KRW/Hour [+]
Population 51.78 51.71 51.78 25.01 Million [+]
Retirement Age Women 62.00 60.00 62.00 55.00 [+]
Retirement Age Men 62.00 60.00 62.00 55.00 [+]
Youth Unemployment Rate 5.80 7.10 13.40 3.80 percent [+]
Employment Rate 61.30 61.20 61.70 56.10 percent [+]