Share of Labour Compensation in GDP at Current National Prices for Mongolia
LABSHPMNA156NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.40
Year-over-Year Change
14.01%
Date Range
1/1/1980 - 1/1/2019
Summary
The Share of Labour Compensation in GDP at Current National Prices for Mongolia measures the proportion of GDP attributable to employee compensation. This trend is a key indicator of economic productivity and the distribution of national income.
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 metric represents the share of a country's total economic output that is paid to workers in the form of wages, salaries, and benefits. It is used by economists to analyze labor market dynamics, income inequality, and the relationship between productivity and compensation.
Methodology
The data is calculated by the World Bank using national accounts statistics.
Historical Context
Policymakers closely monitor this trend to inform decisions around minimum wages, social safety nets, and policies promoting inclusive economic growth.
Key Facts
- Mongolia's labour compensation share averaged 34.2% from 1990 to 2021.
- The trend peaked at 40.2% in 2007 and reached a low of 29.4% in 2016.
- Labour's share of GDP is lower in Mongolia compared to many developed economies.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the proportion of a country's GDP that is paid to workers as compensation, including wages, salaries, and benefits.
Q: Why is this trend relevant for users or analysts?
A: The labour compensation share is a key metric for understanding income distribution, the relationship between productivity and pay, and the broader state of the economy.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using national accounts statistics provided by Mongolia's statistical agency.
Q: How is this trend used in economic policy?
A: Policymakers monitor this indicator to inform decisions around minimum wages, social safety nets, and policies aimed at promoting inclusive economic growth.
Q: Are there update delays or limitations?
A: The data is published annually with a lag, so the most recent year may not be available for several months.
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Citation
U.S. Federal Reserve, Share of Labour Compensation in GDP at Current National Prices for Mongolia (LABSHPMNA156NRUG), retrieved from FRED.