Korea - GDP per person employed (constant 2011 PPP $)

The latest value for GDP per person employed (constant 2011 PPP $) in Korea was 80,222 as of 2020. Over the past 29 years, the value for this indicator has fluctuated between 80,222 in 2020 and 31,125 in 1991.

Definition: GDP per person employed is gross domestic product (GDP) divided by total employment in the economy. Purchasing power parity (PPP) GDP is GDP converted to 2011 constant international dollars using PPP rates. An international dollar has the same purchasing power over GDP that a U.S. dollar has in the United States.

Source: International Labour Organization, ILOSTAT database. Data retrieved in September 2019.

See also:

Year Value
1991 31,125
1992 32,383
1993 34,270
1994 36,342
1995 38,807
1996 41,231
1997 43,054
1998 43,393
1999 47,371
2000 48,970
2001 50,192
2002 52,690
2003 54,559
2004 56,271
2005 58,443
2006 60,709
2007 63,419
2008 64,846
2009 65,572
2010 69,105
2011 70,260
2012 70,811
2013 72,040
2014 72,562
2015 73,917
2016 75,587
2017 77,171
2018 79,130
2019 80,092
2020 80,222

Development Relevance: Labor productivity is used to assess a country's economic ability to create and sustain decent employment opportunities with fair and equitable remuneration. Productivity increases obtained through investment, trade, technological progress, or changes in work organization can increase social protection and reduce poverty, which in turn reduce vulnerable employment and working poverty. Productivity increases do not guarantee these improvements, but without them - and the economic growth they bring - improvements are highly unlikely. GDP per person employed is a key measure to monitor whether a country is on track to achieve the Sustainable Development Goal of promoting sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all. [SDG Indicator 8.2.1]

Limitations and Exceptions: For comparability of individual sectors labor productivity is estimated according to national accounts conventions. However, there are still significant limitations on the availability of reliable data. Information on consistent series of output in both national currencies and purchasing power parity dollars is not easily available, especially in developing countries, because the definition, coverage, and methodology are not always consistent across countries. For example, countries employ different methodologies for estimating the missing values for the nonmarket service sectors and use different definitions of the informal sector.

Statistical Concept and Methodology: GDP per person employed represents labor productivity — output per unit of labor input. To compare labor productivity levels across countries, GDP is converted to international dollars using purchasing power parity rates which take account of differences in relative prices between countries.

Aggregation method: Weighted average

Base Period: 2011

Periodicity: Annual

Classification

Topic: Labor & Social Protection Indicators

Sub-Topic: Economic activity