Real Wages from January to May This Year '3,598,000 KRW per Month'... Down 63,000 KRW Compared to Last Year

June Business Workforce Survey Results

As of May this year, the average monthly real wage per worker, adjusted for inflation, decreased by 63,000 KRW compared to the same period last year.

On the 31st, the Ministry of Employment and Labor announced the "June Business Labor Force Survey Results" containing this information.

According to the report, the total average monthly wage per worker at businesses with one or more regular employees from January to May 2023 was 3,979,000 KRW, an increase of 2.5% (95,000 KRW) compared to the same period last year.

However, the average monthly real wage per worker, adjusted for inflation, was 3,598,000 KRW, a 1.7% decrease (-63,000 KRW) compared to 3,660,000 KRW in the same period last year.

As of the last business day in June, the number of workers at businesses with one or more employees was 19,875,000, an increase of 417,000 (2.1%) compared to 19,458,000 in the same month last year.

The number of regular workers increased by 295,000 (1.8%), temporary and daily workers by 117,000 (6.2%), and other workers by 5,000 (0.4%) compared to the same month last year.

Industries with increased workers were health and social welfare services (93,000; 4.3%), accommodation and food services (81,000; 7.2%), and professional, scientific, and technical services (46,000; 3.7%) in that order. Industries with decreased workers were education services (-5,000; -0.3%), construction (-3,000; -0.2%), and electricity, gas, steam, and air conditioning supply (-1,000; -1.9%) in that order.

In June, 969,000 people joined workplaces, an increase of 62,000 (6.8%) compared to the same month last year, and 946,000 people changed jobs, an increase of 29,000 (3.2%).

Among hires (925,000), regular positions increased by 41,000 (12.9%) to 359,000, and temporary and daily positions increased by 33,000 (6.1%) to 566,000.

This content was produced with the assistance of AI translation services.