South Korea: Labor cost

* indicates monthly or quarterly data series
 South Korea

Labor cost index

 Latest value 138.2
 Reference Q4 2022
 Measure index points
 Data availability Q1 2008 - Q4 2022
 Average 103.91
 Min - Max 69.47 - 154.6
 Source Economic Statistics System (South Korea)
For that indicator, we provide data for South Korea from Q1 2008 to Q4 2022. The average value for South Korea during that period was 103.91 index points with a minimum of 69.47 index points in Q2 2008 and a maximum of 154.6 index points in Q1 2022. Click on the following link to see the values of Labor cost index around the world.
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* indicates monthly or quarterly data series


Recent values chart
South Korea - Labor cost - recent values

Historical chart
South Korea - Labor cost - historical chart - 2008-2022
Measure: index points
Source: Economic Statistics System (South Korea)


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Definition: The index reflects the level of the total compensation of employees in the economy. Labor costs are defined as core expenditure borne by employers for the purpose of employing staff. They include employee compensation, with wages and salaries in cash and in kind, employers' social security contributions and employment taxes regarded as labor costs minus any subsidies received.

 Related indicators Latest value Reference Measure
 Labor force 29.20 2022 million people
 Unemployment rate 2.86 2022 percent
 Female unemployment 2.95 2022 percent
 Male unemployment 2.66 2022 percent
 Youth unemployment 5.03 2023 percent
 Labor force participation 64.51 2023 percent
 Labor force: percent female 42.91 2022 percent
 Female labor force participation 55.77 2023 percent
 Male labor force participation 73.34 2023 percent
 Self-employment 23.45 2022 percent
 Employment 28.70 9/2023 million employed people
 Unemployment rate 2.30 9/2023 percent
 Labor cost 141.70 Q3/2022 index points
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