A Comparative Study on Labor Costs and Productivity of Construction Workers by Country
Publication Date 2018-12-06
Researchers Yun-ju Kim
● In the labor-intensive construction industry, the labor cost and productivity of the construction workers have a very large impact on the construction cost, and these factors are important indicators in the evaluation of the competitiveness of the national construction industry.
● The results of comparing labor costs and labor productivity of construction workers from around the world with income levels show that both labor costs and productivity of domestic construction workers are competitive.
● According to the comparative analysis of labor costs and productivity of construction workers in 2009 and 2018, labor costs have risen significantly in countries with low income levels, and productivity has generally stagnated or declined.
● The productivity of domestic construction workers is either competitive or high compared to income levels, but the improvement of labor productivity based on field production, like in developed countries, is already limited, and will inevitably deteriorate in the future.
● While avoiding price competition in overseas markets to solve the problem of the domestic construction industry's imminent slump in the domestic market and falling global competitiveness, it should be preceded by the establishment of a global-level workforce and technical skills to improve productivity in order to enter areas with high added.