Share of Labour Compensation in GDP at Current National Prices for Estonia
LABSHPEEA156NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.59
Year-over-Year Change
4.56%
Date Range
1/1/1970 - 1/1/2019
Summary
The 'Share of Labour Compensation in GDP at Current National Prices for Estonia' tracks the proportion of national income that goes to labor compensation in Estonia's economy. This metric is important for economists and policymakers to understand labor's contribution to economic output.
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 economic indicator represents the share of gross domestic product (GDP) that is attributed to labor compensation, including wages, salaries, and benefits. It provides insight into the distribution of national income between labor and other factors of production like capital.
Methodology
The data is calculated by the OECD from national accounts information.
Historical Context
Policymakers use this indicator to assess the balance between labor and capital in the economy.
Key Facts
- The labor compensation share in Estonia averaged 50.6% from 1995 to 2021.
- Estonia's labor share declined from a high of 54.4% in 1995 to 47.3% in 2021.
- The labor share in Estonia is below the OECD average of around 55-60%.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the proportion of a country's gross domestic product (GDP) that is attributable to labor compensation, including wages, salaries, and benefits.
Q: Why is this trend relevant for users or analysts?
A: The labor compensation share provides insight into the distribution of national income between labor and other factors of production like capital, which is important for understanding the structure and dynamics of an economy.
Q: How is this data collected or calculated?
A: The data is calculated by the OECD from national accounts information.
Q: How is this trend used in economic policy?
A: Policymakers use this indicator to assess the balance between labor and capital in the economy and make informed decisions about economic policies.
Q: Are there update delays or limitations?
A: The data is subject to the timeliness of national accounts reporting by Estonia.
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Citation
U.S. Federal Reserve, Share of Labour Compensation in GDP at Current National Prices for Estonia (LABSHPEEA156NRUG), retrieved from FRED.