S. Korea Sees Positive Growth in August Real Wages
(MENAFN) South Korean workers experienced a return to positive real wage growth in August as inflation cooled, according to fresh government employment data released Thursday.
Average nominal monthly earnings for employees at businesses with at least one regular worker climbed 1.7 percent year-over-year to 3,937,000 won ($2,760 USD) in August, the Ministry of Employment and Labor reported.
Inflation-adjusted real wages increased 0.1 percent annually during the month, marking a sharp reversal from July's 3.1 percent decline.
Consumer price growth has stabilized near the central bank's 2 percent target in recent months, registering 2.2 percent in June, 2.1 percent in July, and 1.7 percent in August.
Monthly working hours per employee across these businesses dropped 3.3 percent to 150.5 hours in August compared to the same period last year.
The water, sewage, and waste disposal sector reported the longest average monthly working hours at 168.2, with the real estate industry following at 163.1 hours.
The construction sector logged the shortest workweek at 126.1 hours during the reporting period.
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