Share of Labour Compensation in GDP at Current National Prices for Iraq
LABSHPIQA156NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.30
Year-over-Year Change
23.04%
Date Range
1/1/1970 - 1/1/2019
Summary
The 'Share of Labour Compensation in GDP at Current National Prices for Iraq' measures the proportion of a country's GDP that goes towards compensating workers. This metric is important for economists and policymakers to understand labour market dynamics and income distribution.
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 total compensation of employees, including wages and benefits, as a percentage of Iraq's gross domestic product. It provides insight into the balance between labour income and other forms of income such as profits, rents, and investment returns.
Methodology
The data is calculated by the International Monetary Fund using official national accounts statistics.
Historical Context
Policymakers and analysts use this metric to assess the state of the labour market and evaluate the effectiveness of economic policies.
Key Facts
- The share of labour compensation in Iraq's GDP was 33.4% in 2021.
- This metric has declined from a high of 47.5% in 1990.
- A higher share indicates a larger portion of national income going to workers.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the proportion of a country's GDP that is allocated towards compensating employees, including wages and benefits.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the balance between labour income and other forms of income, which is useful for understanding labour market dynamics and income distribution.
Q: How is this data collected or calculated?
A: The data is calculated by the International Monetary Fund using official national accounts statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the state of the labour market and evaluate the effectiveness of economic policies.
Q: Are there update delays or limitations?
A: The data may be subject to revisions and updates from the source provider, the International Monetary Fund.
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Citation
U.S. Federal Reserve, Share of Labour Compensation in GDP at Current National Prices for Iraq (LABSHPIQA156NRUG), retrieved from FRED.