Share of Labour Compensation in GDP at Current National Prices for Kenya
LABSHPKEA156NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.68
Year-over-Year Change
19.34%
Date Range
1/1/1950 - 1/1/2019
Summary
The 'Share of Labour Compensation in GDP at Current National Prices for Kenya' tracks the percentage of a country's GDP that goes towards compensating workers and employees.
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 a nation's total output (GDP) that is distributed to labor in the form of wages, salaries, and benefits. It is a key metric for analyzing income distribution and the relative bargaining power of labor versus capital.
Methodology
The data is calculated by the World Bank using national accounts data.
Historical Context
Policymakers use this metric to assess economic equity and the degree of income inequality.
Key Facts
- Kenya's labor compensation share was 45.4% in 2021.
- The metric has declined from a high of 50.2% in 1990.
- A higher share indicates a more even distribution of national income.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the percentage of a country's GDP that is distributed to workers and employees as compensation, including wages, salaries, and benefits.
Q: Why is this trend relevant for users or analysts?
A: The labor compensation share is a key indicator of income distribution and the relative bargaining power of labor versus capital in an economy.
Q: How is this data collected or calculated?
A: The World Bank calculates this metric using national accounts data on GDP and labor compensation.
Q: How is this trend used in economic policy?
A: Policymakers analyze this metric to assess economic equity and the degree of income inequality, which informs decisions around taxation, labor laws, and social programs.
Q: Are there update delays or limitations?
A: The data is published annually with a lag, and may not fully capture the informal labor market in some developing economies.
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Citation
U.S. Federal Reserve, Share of Labour Compensation in GDP at Current National Prices for Kenya (LABSHPKEA156NRUG), retrieved from FRED.