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S. Korea's real wage rises for 2nd month in May

SEOUL
2024-07-30 13:53

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SEOUL, July 30 (Xinhua) -- South Korea's real wage, adjusted for inflation, rose for the second straight month owing to slower inflation, labor ministry data showed Tuesday.

The per-capita nominal monthly average wage in businesses with one or more regular employees gained 3.2 percent over the year to 3,823,000 won (2,760 U.S. dollars) in May, according to the Ministry of Employment and Labor.

The real monthly wage added 0.5 percent in May on a yearly basis after growing 1.4 percent in the previous month.

The consumer price index (CPI) was up 2.7 percent in May from a year earlier, lower than an increase of 2.9 percent in April and 3.1 percent in March.

The monthly average working hours per worker in the businesses fell 0.9 percent from a year earlier to 153.3 hours in May.

The manufacturing industry recorded the longest monthly working hours of 169.4, followed by the mining industry with 169.1 hours.

The construction industry logged the shortest working hours of 124.6 in the cited month.
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