Growth in South Korea’s labor productivity accelerated in the fourth quarter of 2011 from three months earlier, helped by solid export gains, a government report showed Wednesday.
According to the report by the Ministry of Knowledge Economy, the labor productivity index for all industries in the three month period increased 3.3 percent on-year to 112.6, up from 109.0 tallied a year earlier.
The on-year growth rate of labor productivity sank to 1.1 percent in the third quarter of last year after reaching 3 percent in the second quarter and 4 percent in the first quarter, mainly due to sluggish economic growth brought on by eurozone woes and high commodities prices. South Korea’s economy grew 3.8 percent in 2011 down from 6.2 percent in the previous year.
(Yonhap News)
