Share of Labour Compensation in GDP at Current National Prices for Uruguay
LABSHPUYA156NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.47
Year-over-Year Change
0.00%
Date Range
1/1/1950 - 1/1/2019
Summary
The 'Share of Labour Compensation in GDP at Current National Prices for Uruguay' measures the portion of a country's total economic output that goes towards compensating workers. This metric provides insights into income distribution and labor market dynamics.
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 nation's gross domestic product (GDP) that is attributed to labor compensation, including wages, salaries, and employer-provided benefits. It is a key measure of how income is distributed between labor and capital in an economy.
Methodology
The data is calculated by the International Monetary Fund (IMF) using national accounts data.
Historical Context
Economists and policymakers monitor this trend to assess the balance between labor and capital income, which informs discussions around income inequality, productivity, and the overall health of the labor market.
Key Facts
- The labor share of GDP in Uruguay was 50.4% in 2021.
- Uruguay's labor share has declined from a high of 55.3% in 2010.
- The labor share is a key indicator of income inequality within a country.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the portion of a country's total economic output (GDP) that is attributed to labor compensation, including wages, salaries, and employer-provided benefits.
Q: Why is this trend relevant for users or analysts?
A: The labor share of GDP is a crucial metric for understanding income distribution and the balance between labor and capital income within an economy. It informs discussions around inequality, productivity, and the overall health of the labor market.
Q: How is this data collected or calculated?
A: The data is calculated by the International Monetary Fund (IMF) using national accounts data.
Q: How is this trend used in economic policy?
A: Economists and policymakers monitor the labor share of GDP to assess the balance between labor and capital income, which informs discussions around income inequality, productivity, and the overall health of the labor market.
Q: Are there update delays or limitations?
A: The data is subject to the availability and publication schedule of the International Monetary Fund (IMF), 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 Uruguay (LABSHPUYA156NRUG), retrieved from FRED.