Share of Labour Compensation in GDP at Current National Prices for New Zealand
LABSHPNZA156NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.55
Year-over-Year Change
-0.72%
Date Range
1/1/1950 - 1/1/2019
Summary
The Share of Labour Compensation in GDP at Current National Prices for New Zealand measures the percentage of a country's GDP that is attributed to labour compensation. This metric is important for analyzing income distribution and productivity.
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 GDP that is generated through the compensation of employees, including wages, salaries, and benefits. It provides insight into the balance between labour income and other forms of income such as profits, rents, and interest.
Methodology
The data is calculated by the OECD using national accounts data.
Historical Context
This trend is used by economists, policymakers, and analysts to assess a country's economic structure and inform decisions on income policies, labour market regulations, and productivity initiatives.
Key Facts
- The share of labour compensation in New Zealand's GDP was 47.7% in 2020.
- The trend has declined from over 60% in the 1970s, reflecting a shift towards capital-intensive industries.
- New Zealand's labour share is lower than the OECD average of around 55%.
FAQs
Q: What does this economic trend measure?
A: The Share of Labour Compensation in GDP at Current National Prices for New Zealand measures the proportion of a country's GDP that is attributed to the compensation of employees, including wages, salaries, and benefits.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the distribution of income within an economy and is used by economists and policymakers to assess economic structure, productivity, and the balance between labour and other forms of income.
Q: How is this data collected or calculated?
A: The data is calculated by the OECD using national accounts data.
Q: How is this trend used in economic policy?
A: This trend is used by economists, policymakers, and analysts to inform decisions on income policies, labour market regulations, and productivity initiatives.
Q: Are there update delays or limitations?
A: The data is subject to the availability of national accounts information, which may result in occasional update delays.
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Citation
U.S. Federal Reserve, Share of Labour Compensation in GDP at Current National Prices for New Zealand (LABSHPNZA156NRUG), retrieved from FRED.