Labour Costs in South Korea increased to 119.30 points in the first quarter of 2020 from 101.50 points in the fourth quarter of 2019.

Labour Costs in South Korea averaged 91.91 points from 2008 until 2020, 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 2020. source: Korea Productivity Center

Labour Costs in South Korea is expected to be 140.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Labour Costs in South Korea to stand at 142.00 in 12 months time. In the long-term, the South Korea Labour Costs is projected to trend around 142.00 points in 2021, according to our econometric models.

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South Korea Labour Costs

Actual Previous Highest Lowest Dates Unit Frequency
119.30 101.50 129.90 69.00 2008 - 2020 points Quarterly
NSA, 2015=100

South Korea Labour Last Previous Highest Lowest Unit
Unemployment Rate 3.20 4.20 7.10 3.00 percent [+]
Employed Persons 26922.00 26808.00 27522.00 20268.00 Thousand [+]
Unemployed Persons 891.00 1179.00 1546.00 690.00 Thousand [+]
Labor Force Participation Rate 62.40 63.10 64.20 48.50 percent [+]
Labour Costs 119.30 101.50 129.90 69.00 points [+]
Productivity 109.10 115.80 115.80 53.50 points [+]
Wages 3615931.00 4003335.00 4021244.00 2460239.00 KRW/Month [+]
Wages in Manufacturing 3803701.00 4432727.00 4654149.00 2520139.00 KRW/Month [+]
Minimum Wages 8590.00 8350.00 8590.00 600.00 KRW/Hour [+]
Population 51.71 51.61 51.71 25.01 Million [+]
Retirement Age Women 60.00 60.00 60.00 55.00 [+]
Retirement Age Men 60.00 60.00 60.00 55.00 [+]
Youth Unemployment Rate 7.70 9.70 13.40 3.80 percent [+]
Employment Rate 60.40 60.20 61.70 56.10 percent [+]