Share of Labour Compensation in GDP at Current National Prices for Saudi Arabia
LABSHPSAA156NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.28
Year-over-Year Change
20.07%
Date Range
1/1/1970 - 1/1/2019
Summary
The 'Share of Labour Compensation in GDP at Current National Prices for Saudi Arabia' measures the portion of a country's Gross Domestic Product (GDP) that is attributed to employee compensation. This metric provides insight into 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 indicator represents the share of a country's GDP that is allocated to compensating employees, including wages, salaries, and employer social contributions. Economists use this data to analyze labour market dynamics and assess the relative bargaining power between labour and capital.
Methodology
The data is calculated by the International Monetary Fund (IMF) based on national accounts information.
Historical Context
Policymakers and analysts monitor this trend to understand the balance between labour and business profits within a country's economic structure.
Key Facts
- Saudi Arabia's labour compensation share of GDP was 31.9% in 2020.
- The labour compensation share has declined from a high of 37.5% in 2014.
- Saudi Arabia has a relatively low labour compensation share compared to other major economies.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the portion of a country's Gross Domestic Product (GDP) that is attributed to employee compensation, including wages, salaries, and employer social contributions.
Q: Why is this trend relevant for users or analysts?
A: Economists use this data to analyze labour market dynamics and assess the relative bargaining power between labour and capital within a country's economic structure.
Q: How is this data collected or calculated?
A: The data is calculated by the International Monetary Fund (IMF) based on national accounts information.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this trend to understand the balance between labour and business profits within a country's economic structure, which can inform policies related to income distribution and labour market regulations.
Q: Are there update delays or limitations?
A: The data is published annually with a lag, so there may be a delay in accessing the most recent figures.
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Citation
U.S. Federal Reserve, Share of Labour Compensation in GDP at Current National Prices for Saudi Arabia (LABSHPSAA156NRUG), retrieved from FRED.