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S. Korea's real wage falls in January-November

SEOUL
2024-01-30 13:38

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SEOUL, Jan. 30 (Xinhua) -- South Korea's real wage, adjusted for inflation, fell for the first 11 months of last year on high inflation, labor ministry data showed Tuesday.

The per-capita nominal monthly average wage in businesses with one or more regular employees grew 2.8 percent over the year to 3,923,000 won (2,950 U.S. dollars) during the January-November period, according to the Ministry of Employment and Labor.

The real monthly wage shrank 0.9 percent to 3,519,000 won (2,640 dollars) in the 11-month period.

For the first 11 months of last year, the consumer price index (CPI) gained 3.6 percent from a year earlier.

In November alone, the real wage grew 0.3 percent on a yearly basis, keeping an upward trend for the third straight month.

The monthly average working hours per worker in the businesses retreated 1.4 percent from a year earlier to 165.6 hours in November.

The mining industry recorded the longest monthly working hours of 185.4, followed by the manufacturing industry with 182.4 hours.

The construction industry logged the shortest working hours of 135.9 in the cited month.
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