South Korea Total Monthly Wages in Manufacturing - Forecast

Wages in Manufacturing in South Korea is expected to be 3697000.00 KRW/Month by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Wages in Manufacturing in South Korea to stand at 4376000.00 in 12 months time. In the long-term, the South Korea Total Monthly Wages in Manufacturing is projected to trend around 4424000.00 KRW/Month in 2020, according to our econometric models.


South Korea Total Monthly Wages in Manufacturing
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South Korea Labour Last Q2/18 Q3/18 Q4/18 Q1/19 2020
Unemployment Rate 3.8 3.9 3.8 3.8 3.9 4.1
Employed Persons 26807 27000 26648 27500 26629 28700
Unemployed Persons 1068 1011 1022 1153 1021 1280
Labor Force Participation Rate 63.5 63.9 61.55 62.9 61.54 63
Labour Costs 146 135 138 143 138 151
Productivity 110 95.85 95.85 96.7 95.85 97.3
Wages 3541984 3561000 3692000 3766000 3863000 4093000
Wages in Manufacturing 3877934 3697000 3943000 4146000 4376000 4424000
Minimum Wages 7530 7530 7530 7530 8200 8800
Population 51.45 51.2 50.91 51.2 50.99 51.37
Retirement Age Women 60 60 60 60 60 60
Retirement Age Men 60 60 60 60 60 60
Youth Unemployment Rate 10.7 10.3 8.79 8.7 8.3 8.4
Employment Rate 60.9 61.5 61.14 60.3 61.09 60.6