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 |
| 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.
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Measure: index points
Source: Economic Statistics System (South Korea)
Source: Economic Statistics System (South Korea)
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.