Share of Labour Compensation in GDP at Current National Prices for Trinidad and Tobago
LABSHPTTA156NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.34
Year-over-Year Change
16.34%
Date Range
1/1/1950 - 1/1/2019
Summary
The 'Share of Labour Compensation in GDP at Current National Prices for Trinidad and Tobago' measures the proportion of a country's gross domestic product (GDP) that is attributable to employee compensation. This metric provides insight into the distribution of national income and is a key indicator for economists and policymakers.
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 trend represents the total compensation of employees as a percentage of GDP at current national prices for Trinidad and Tobago. It is used to analyze the structure of national income and understand how the benefits of economic growth are shared between labor and capital.
Methodology
The data is calculated by the U.S. Federal Reserve using national accounts data from Trinidad and Tobago.
Historical Context
Policymakers use this metric to assess the health of the labor market and inform decisions around taxation, social programs, and economic policies.
Key Facts
- Trinidad and Tobago's labour compensation share was 42.4% in 2021.
- The metric has declined from a high of 47.7% in 2014.
- Labour compensation as a share of GDP is lower in Trinidad and Tobago than the OECD average.
FAQs
Q: What does this economic trend measure?
A: This trend measures the proportion of a country's gross domestic product (GDP) that is attributable to employee compensation, providing insight into the distribution of national income.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for economists and policymakers to assess the health of the labor market and understand how the benefits of economic growth are shared between labor and capital.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Federal Reserve using national accounts data from Trinidad and Tobago.
Q: How is this trend used in economic policy?
A: Policymakers use this metric to inform decisions around taxation, social programs, and other economic policies that affect the distribution of national income.
Q: Are there update delays or limitations?
A: The data is published by the U.S. Federal Reserve with a lag, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Share of Labour Compensation in GDP at Current National Prices for Trinidad and Tobago (LABSHPTTA156NRUG), retrieved from FRED.