South Korea Total Wages - Forecast

Wages in South Korea is expected to be 3692000.00 KRW/Month by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Wages in South Korea to stand at 3658000.00 in 12 months time. In the long-term, the South Korea Total Wages is projected to trend around 4093000.00 KRW/Month in 2020, according to our econometric models.


South Korea Total Wages
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South Korea Labour Last Q3/18 Q4/18 Q1/19 Q2/19 2020
Unemployment Rate 3.7 3.8 3.8 3.9 4 4.1
Employed Persons 26798 26778 27500 26775 26775 28700
Unemployed Persons 1018 1023 1153 1033 1033 1280
Labor Force Participation Rate 63.8 62.72 62.9 63.07 62.95 63
Labour Costs 146 158 137 153 132 142
Productivity 110 108 109 109 110 112
Wages 3917383 3692000 3766000 3863000 3658000 4093000
Wages in Manufacturing 4562783 3943000 4146000 4376000 3787000 4424000
Minimum Wages 7530 7530 7530 8200 8200 8800
Population 51.45 51.61 51.2 51.7 51.75 52.26
Retirement Age Women 60 60 60 60 60 60
Retirement Age Men 60 60 60 60 60 60
Youth Unemployment Rate 9.1 8.97 8.7 9.44 9.39 8.4
Employment Rate 61.4 60.4 60.3 60.66 60.57 60.6