Share of Labour Compensation in GDP at Current National Prices for United Kingdom
LABSHPGBA156NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.59
Year-over-Year Change
-2.31%
Date Range
1/1/1950 - 1/1/2019
Summary
The 'Share of Labour Compensation in GDP at Current National Prices for United Kingdom' measures the proportion of a country's Gross Domestic Product (GDP) that is attributed to employee compensation. This metric is useful for economic analysis and policymaking.
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 indicator represents the share of total national income that goes to labor in the form of wages, salaries, and benefits. It provides insight into the functional distribution of income and can inform discussions around inequality, productivity, and the balance between capital and labor.
Methodology
The data is calculated by the U.S. Federal Reserve using national accounts data from the United Kingdom.
Historical Context
Policymakers and analysts monitor this trend to assess the health of the labor market and the overall state of the economy.
Key Facts
- The UK's labor compensation share in GDP was 51.9% in 2021.
- This metric has declined from a high of 65.3% in 1975.
- A higher labor share can indicate stronger worker bargaining power.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the proportion of a country's Gross Domestic Product (GDP) that is attributed to employee 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 functional distribution of income and can inform discussions around inequality, productivity, and the balance between capital and labor.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Federal Reserve using national accounts data from the United Kingdom.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this trend to assess the health of the labor market and the overall state of the economy.
Q: Are there update delays or limitations?
A: The data is subject to the timeliness of the underlying national accounts data from the United Kingdom.
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Citation
U.S. Federal Reserve, Share of Labour Compensation in GDP at Current National Prices for United Kingdom (LABSHPGBA156NRUG), retrieved from FRED.