Productivity declines in Korea by 2nd-largest margin in OECD

Home > Business > Economy

print dictionary print

Productivity declines in Korea by 2nd-largest margin in OECD

Korea’s labor productivity fell by the second-largest margin in the third quarter of last year among the members of the Organization for Economic Cooperation and Development, due mainly to a drop in economic growth, data showed yesterday.

According to the data compiled by the OECD, Korea’s labor productivity declined 0.4 percent in the July-September period of last year from three months earlier, the second-largest drop among the 22 OECD member countries after Norway, which suffered a 1.3 percent drop. Labor productivity is measured by dividing industrial output by labor input during a given period of time.

Only six countries, including Portugal and Italy, saw their labor productivity decline in the third quarter. The surveyed countries registered an average 0.2 percent rise in their labor productivity, according to the OECD data.

Yonhap

More in Economy

Online courses get failing grades from tech students

Help after the rains

Plush protest

The Gangnam-Gangbuk price gap remains

Government to create 15 smart green industrial complexes

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

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

Standards Board Policy (0/250자)

What’s Popular Now