: Annual Labour Input Based on Household Survey
Some time series data for the R.O.K. macroeconomic variables are available annually and quarterly while some are not available quarterly or at all. Annual employment and labour for R.O.K based on household survey are available. The data are not seasonally-adjusted and the statistics were calculated from logarithmically transformed and then H-P-filtered data.
The Cross Correlation of Annual employment and labour with Real Gross Domestic Product over Time
| Variable | SD% | Cross Correlation of Output with | |||||||||||
| X(-5) | X(-4) | X(-3) | X(-2) | X(-1) | X[Kor] | X(1) | X(2) | X(3) | X(4) | X(5) | |||
| Output component | GDP | 0.084 | -0.052 | -0.166 | -0.129 | 0.031 | 0.468 | 1.000 | 0.468 | 0.031 | -0.129 | -0.166 | -0.052 |
| Labor input based on household survey | HSHOURS | 0.155 | -0.160 | -0.285 | -0.202 | -0.022 | 0.349 | 0.637 | 0.324 | 0.031 | 0.047 | 0.113 | 0.090 |
| HSAVGHRS | 0.275 | -0.068 | -0.053 | 0.017 | 0.112 | 0.333 | 0.274 | -0.107 | -0.390 | -0.262 | 0.012 | 0.123 | |
| HSEMPLMT | 0.172 | -0.168 | -0.341 | -0.274 | -0.094 | 0.265 | 0.684 | 0.492 | 0.275 | 0.291 | 0.141 | 0.045 | |
| GDP/HSHOURS | 0.111 | 0.020 | 0.009 | -0.039 | 0.018 | 0.190 | 0.588 | 0.238 | -0.018 | -0.250 | -0.368 | -0.175 | |
Data Description
| Data | Statistics/Survey | Period | Source | Notes |
| GDP | National accounts | 1953- | BOK (Bank of Korea), ECOS (Economic Statistics System)>10.2.1.4 GDP and GNI by economic activities (not seasonally adjusted, chained 2010 year prices, quarterly & annual, Unit: billion won) | |
| Household survey on labor input | Annual Report on the Economically Active Population Survey | 1962- | Statistics, Korea>KOSIS (Korean Statistical Information Service)>Statistical Database >Employment/Labor/Wage>Employment>Economically Active Population Survey | • On February 2018, the revised time series data of employed persons from the third quarter of 2000 to 2017 was published that the numbers are different from those in the periodic reports of the publication. |
| • The data for average hours worked per week before 1980 are available at Statistics Korea Library (http://lib1.kostat.go.kr)> 통계청간행물 (KOSTAT Publications)> 통계간행물 주제분류 (Browse by theme)> 인구노동통계 (Population & labor)>(노동통계) 경제활동인구 (Housing Stat)Economically active population |
Notes
1. The data in comparatively former survey reports were irregularly recorded and updated numbers are revealed that it is required to check every volume of the publications to obtain the most updated and accurate numbers.
2. The scale of establishment in working condition part in Report on Labour Force Survey at Establishments started from 2011 had been preserved the existing classification and the data for establishments with 1 or more permanent (regular) employees was released in June, 2018. However, the employment part was subclassified into establishments with less than 300 employees and more including 300 in terms of scale of extablishment. This subclassification is different from the former one so that it is unavoidable that the time series analysis with these data is disconneted. The analyses with ESHOURS and ESMPLMT are for 1970-2010.
3. Definitions of workers provided in (Report on Labour Force Survey at Establishments, 2001 p243조사표 작성요령, 1현원 및 노동이동)
– Permanent employees: paid employees with 1 year or more period of employment contract, or paid regular staff with undecided period of employment contract including executives
– TemporaryㆍDaily employees: employees with employment period less than 1 year
– Other workers: workers without an independent office, a shop or a working place, subordinated by a business owner under contract, who provide goods or services by themselves and earn the income based on the working performance, and who decide how to and how much to provide their labor, and the others
※ Workers dispatched or contracted to service by labor providing agencies, self-employed workers and unpaid family workers are excluded from the survey.
4. Acronyms
SD%: The square root of (average of (cycle/trend)^2 ); GDP: Gross Domestic Product, 1953-2017, 2010₩; HSHOURS: total hours of work (Household Survey), 1970-2017; HSAVGHRS: average weekly hours of work (Household Survey), 1970-2017; HSEMPLMT: employment (Household Survey), 1963-2017
References
Thomas F. Cooley and Edward C. Prescott, Economic Growth and Business Cycles, Frontiers of Business Cycle Research, chapter 1, Princeton University Press, Princeton, New Jersey, 1995