Share of Labour Compensation in GDP at Current National Prices for Austria
LABSHPATA156NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.58
Year-over-Year Change
6.02%
Date Range
1/1/1950 - 1/1/2019
Summary
The 'Share of Labour Compensation in GDP at Current National Prices for Austria' tracks the proportion of a country's GDP that goes towards compensating labor. This metric is a key indicator of economic conditions and distribution of income.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This series measures the share of total GDP in Austria that is attributed to labor compensation, including wages, salaries, and employer social contributions. It provides insight into the division of national income between labor and capital, and is used by economists to analyze productivity, income inequality, and other macroeconomic factors.
Methodology
The data is calculated by the OECD using national accounts data reported by the Austrian government.
Historical Context
Policymakers and analysts monitor this trend to assess the health of the Austrian labor market and broader economic conditions.
Key Facts
- The labor share in Austria's GDP was 52.8% in 2021.
- Austria's labor share has declined by over 5 percentage points since the 1990s.
- Lower labor share can indicate increased income inequality.
FAQs
Q: What does this economic trend measure?
A: This trend measures the proportion of Austria's GDP that goes towards compensating labor, including wages, salaries, and employer social contributions.
Q: Why is this trend relevant for users or analysts?
A: The labor share of GDP is a key indicator of economic conditions and the distribution of national income. Monitoring this trend provides insight into productivity, income inequality, and other important macroeconomic factors.
Q: How is this data collected or calculated?
A: The data is calculated by the OECD using national accounts data reported by the Austrian government.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor the labor share of GDP to assess the health of the Austrian labor market and broader economic conditions, which can inform policies related to employment, income distribution, and productivity.
Q: Are there update delays or limitations?
A: There may be a lag of several months between the end of the reference period and the publication of the latest data.
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Citation
U.S. Federal Reserve, Share of Labour Compensation in GDP at Current National Prices for Austria (LABSHPATA156NRUG), retrieved from FRED.