Comparison of Labor Hours and Productivity Indicators among G7 Countries, Korea, Taiwan, and China

A comparison was made between labor hours and labor productivity indicators of Korea, Taiwan, China, and the countries in the G7 group. In terms of labor productivity, the United States, France, and Germany were found to be leading with $60-80 per hour, while Japan, Korea, Taiwan, the United Kingdom, and Italy were in the mid-range at $40-60 per hour and China was in the lowest bracket at $0-20 per hour. The number of working hours for China, Taiwan, and Korea was found to be 2000 to 2200 hours, while it was 1600 to 1800 hours for the United States, Japan, Italy, and the United Kingdom and 1400 to 1600 hours for France and Germany. Despite having a successful enough economy, measured by GDP per capita, to be included in the 30-50 club, it is apparent that Korea still falls short in terms of labor and productivity compared to advanced countries. The same conclusion can be drawn for Taiwan.