Labor productivity drops in third quarter amid slump

Home > Business > Economy

print dictionary print

Labor productivity drops in third quarter amid slump

Korea’s labor productivity fell from a year earlier in the third quarter amid the protracted economic slowdown, a report showed yesterday.

The country’s overall labor productivity moved down 1.8 percent on-year to 104 in the July-September period, led by losses in the construction industry, where the productivity index plunged 14.1 percent, according to a report by the Ministry of Knowledge Economy.

Labor productivity is measured by dividing industrial output by labor input during a given period of time. The government uses 2008 as the base year.

The labor productivity index for the manufacturing industry edged up 2 percent in the third quarter from a year earlier to 102.8, while the service industry dropped 1.5 percent to 102.8, the report showed.

Yonhap
Log in to Twitter or Facebook account to connect
with the Korea JoongAng Daily
help-image Social comment?
s
lock icon

To write comments, please log in to one of the accounts.

Standards Board Policy (0/250자)

What’s Popular Now