S. Korea's Real Wage Rebounds In February

SEOUL, (APP - UrduPoint / Pakistan Point News - 30th Apr, 2024) South Korea's real wage, adjusted for inflation, marked the first rebound in three months despite the still high inflation, labor ministry data showed Tuesday.

The per-capita nominal monthly average wage in businesses with one or more regular employees grew 11.5 percent over the year to 4,351,000 won (3,150 U.S. Dollars) in February, according to the Ministry of Employment and Labor.

The turnaround was attributed to bonus payment before the Lunar New Year's holiday that fell in February this year.

The real monthly wage gained 8.2 percent to 3,825,000 won (2,770 dollars) in February on a yearly basis after sliding 3.1 percent in December last year and 11.1 percent in January this year.

The consumer price index (CPI) advanced 3.1 percent in February from a year earlier, higher than an increase of 2.8 percent in the previous month.

The monthly average working hours per worker in the businesses decreased 4.8 percent from a year earlier to 145.6 hours in February.