Share of Labour Compensation in GDP at Current National Prices for Burkina Faso
LABSHPBFA156NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.46
Year-over-Year Change
0.19%
Date Range
1/1/1959 - 1/1/2019
Summary
The 'Share of Labour Compensation in GDP at Current National Prices for Burkina Faso' measures the proportion of a country's gross domestic product (GDP) that is attributed to employee compensation. This metric is crucial for understanding the distribution of economic output and the role of labor in national production.
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 represents the ratio of total employee compensation to GDP in Burkina Faso, expressed as a percentage. It reflects the share of national income that is distributed to workers through wages, salaries, and other forms of remuneration. This indicator provides insights into the structure and dynamics of the Burkinabe economy.
Methodology
The data is collected and calculated by the International Labour Organization (ILO) based on national accounts statistics.
Historical Context
Policymakers and economists use this metric to analyze labor market trends, income inequality, and the overall structure of the economy.
Key Facts
- Burkina Faso's labor compensation share in GDP was 49.4% in 2020.
- The labor compensation share has remained relatively stable over the past decade.
- Monitoring this metric helps assess the balance between capital and labor in the economy.
FAQs
Q: What does this economic trend measure?
A: This trend measures the proportion of Burkina Faso's gross domestic product (GDP) that is attributed to employee compensation, including wages, salaries, and other forms of remuneration.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the structure and dynamics of the Burkinabe economy, particularly the distribution of national income between labor and capital. It is a crucial indicator for understanding employment, income inequality, and the overall role of labor in the country's economic production.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the International Labour Organization (ILO) based on national accounts statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to analyze labor market trends, income distribution, and the overall structure of the Burkinabe economy. It can inform policy decisions related to employment, wages, and the balance between capital and labor.
Q: Are there update delays or limitations?
A: The data is subject to the availability and timeliness of national accounts statistics reported by Burkina Faso to the ILO. There may be occasional delays in data updates or limitations in coverage, which should be considered when interpreting the trend.
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Citation
U.S. Federal Reserve, Share of Labour Compensation in GDP at Current National Prices for Burkina Faso (LABSHPBFA156NRUG), retrieved from FRED.