Share of Labour Compensation in GDP at Current National Prices for Sierra Leone
LABSHPSLA156NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.55
Year-over-Year Change
3.72%
Date Range
1/1/1980 - 1/1/2019
Summary
The Share of Labour Compensation in GDP at Current National Prices for Sierra Leone measures the percentage of a country's GDP that is attributed to employee compensation. This metric is important for economists and policymakers to understand the distribution of income and the relative importance of labour in a nation's economic output.
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 portion of Sierra Leone's gross domestic product (GDP) that is paid to workers as wages, salaries, and benefits. It provides insight into the structure and dynamics of the country's economy, particularly the role of labour versus other factors of production like capital.
Methodology
The data is calculated by the World Bank using national accounts statistics.
Historical Context
This labour share metric is widely used by economists and policymakers to analyze economic performance and guide policy decisions.
Key Facts
- Sierra Leone's labour share of GDP was 39.2% in 2020.
- The labour share has declined from 44.5% in 1960.
- Tracking labour's contribution to GDP is crucial for policymakers.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the percentage of Sierra Leone's GDP that is attributed to employee compensation, including wages, salaries, and benefits.
Q: Why is this trend relevant for users or analysts?
A: The labour share of GDP is an important metric for understanding the distribution of income and the relative importance of labour in a country's economic output, which is crucial information for policymakers.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using national accounts statistics.
Q: How is this trend used in economic policy?
A: This labour share metric is widely used by economists and policymakers to analyze economic performance and guide policy decisions related to income distribution, labour market dynamics, and productivity.
Q: Are there update delays or limitations?
A: The data is subject to the availability and timeliness of national accounts statistics provided by the government of Sierra Leone.
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Citation
U.S. Federal Reserve, Share of Labour Compensation in GDP at Current National Prices for Sierra Leone (LABSHPSLA156NRUG), retrieved from FRED.