World Traveler
Joined: 29 May 2009
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 Posted: Thu Dec 29, 2011 8:44 am Post subject: Korean Real Wage Drops 3.5% in 2011 amid High Inflation |
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Korea's inflation-adjusted average wage this year fell significantly from last year, amid soaring consumer prices.
According to data released by the Bank of Korea, Korean workers' real salary averaged about 2.7 million won, or roughly 23-hundred US dollars a month this year, down nearly 3.5 percent from 2010.
The 2011 figure marks the third biggest drop, since the nation's real wage plunged about 9-percent, both in 2008 and 1998, during periods of global financial turmoil.
The central bank also says, consumer inflation is expected to grow four percent this year hitting the top end of its inflation target band. |
http://www.arirang.co.kr/News/News_View.asp?nseq=124165&code=Ne2&category=2[/img] |
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