S. Korea's manufacturing labor productivity up in Q3

SEOUL, Dec. 22 (Yonhap) -- South Korea's labor productivity in the manufacturing
sector rebounded in the third quarter of this year as the world started to shake
off the lethargy of last year's financial crisis, a government report showed
Tuesday.

According to the data provided by the Ministry of Knowledge Economy, the labor
productivity index for the nation's manufacturing sector stood at 130.8 against
the 2005 base of 100 in the July-September period, up 7.7 percent from a year
ago.
Labor productivity is measured by dividing total output with total labor input
during a given period of time, the ministry explained.
The gains also marked the first rebound following three straight quarters of
negative growth in labor productivity.
The ministry said the government's stimulus programs supported by a 28.4 trillion
won (US$23.9 billion) extra budget passed in late April helped bolster growth in
such areas as automobiles, electronics and shipbuilding, while a 3.1 percent drop
in labor input further helped overall productivity.
It said that with the exception of facility investments, there was a rise in
government spending on the construction sector and exports.
yonngong@yna.co.kr
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