S. Korea's labor productivity increased in 2018, mainly due to reduced work hours
- 5 years ago
작년 전 산업 노동생산성 3.6%↑…근로시간 감소 등 영향
Labor productivity in all industrial sectors increased slightly last year... mainly due to reduced working hours.
According to the Korea Productivity Center, the labor productivity index recorded 108-point-3 in 2018.
That's a 3-point-6 percent on-year spike.
The index is calculated by dividing added value by work hours... relative to the base year 2015.
There's been steady increase for three straight years.
2018's rise was mainly fuelled by a boost in private consumption and shortened working hours.
A 52-hour workweek system was introduced in July for companies with 300 or more employees.
Labor productivity in all industrial sectors increased slightly last year... mainly due to reduced working hours.
According to the Korea Productivity Center, the labor productivity index recorded 108-point-3 in 2018.
That's a 3-point-6 percent on-year spike.
The index is calculated by dividing added value by work hours... relative to the base year 2015.
There's been steady increase for three straight years.
2018's rise was mainly fuelled by a boost in private consumption and shortened working hours.
A 52-hour workweek system was introduced in July for companies with 300 or more employees.