Share of Labour Compensation in GDP at Current National Prices for Lao People's Democratic Republic
LABSHPLAA156NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.40
Year-over-Year Change
0.00%
Date Range
1/1/1980 - 1/1/2019
Summary
The Share of Labour Compensation in GDP at Current National Prices for Lao People's Democratic Republic measures the portion of a country's total economic output that goes to labor compensation. This metric is important for analyzing income distribution and the relative strength of the labor market.
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 country's gross domestic product (GDP) that is attributed to labor compensation, including wages, salaries, and other forms of remuneration. It provides insights into the balance between capital and labor income within the national economy.
Methodology
The data is calculated by the International Labour Organization (ILO) using national accounts data.
Historical Context
Policymakers and economists use this metric to assess the health of the labor market and the degree of income inequality within a country.
Key Facts
- The labor compensation share in Lao PDR's GDP was 37.3% in 2021.
- This metric has declined from a high of 40.3% in 2009.
- Lao PDR's labor compensation share is lower than the global average.
FAQs
Q: What does this economic trend measure?
A: This trend measures the portion of a country's total economic output, as measured by GDP, that is attributed to labor 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 balance between capital and labor income within the national economy, which is important for analyzing income distribution and the relative strength of the labor market.
Q: How is this data collected or calculated?
A: The data is calculated by the International Labour Organization (ILO) using national accounts data.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to assess the health of the labor market and the degree of income inequality within a country, which can inform policy decisions.
Q: Are there update delays or limitations?
A: The data may be subject to update delays and potential limitations in data collection or reporting at the national level.
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Citation
U.S. Federal Reserve, Share of Labour Compensation in GDP at Current National Prices for Lao People's Democratic Republic (LABSHPLAA156NRUG), retrieved from FRED.