South Korea: Labor cost

* indicates monthly or quarterly data series
 South Korea

Labor cost index

 Latest value 125.7
 Reference Q1 2024
 Measure index points
 Data availability Q1 2011 - Q1 2024
 Average 89.9
 Min - Max 63.3 - 125.7
 Source Economic Statistics System (South Korea)
For that indicator, we provide data for South Korea from Q1 2011 to Q1 2024. The average value for South Korea during that period was 89.9 index points with a minimum of 63.3 index points in Q2 2011 and a maximum of 125.7 index points in Q1 2024. 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 - 2011-2024
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 29.52 2023 million people
 Unemployment rate 2.86 2022 percent
 Female unemployment 2.68 2023 percent
 Male unemployment 2.64 2023 percent
 Youth unemployment 5.03 2023 percent
 Labor force participation 64.51 2023 percent
 Labor force: percent female 43.48 2023 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 117.10 Q3/2023 index points
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