Share of Labour Compensation in GDP at Current National Prices for Bolivarian Republic of Venezuela
LABSHPVEA156NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.43
Year-over-Year Change
6.48%
Date Range
1/1/1950 - 1/1/2019
Summary
The 'Share of Labour Compensation in GDP at Current National Prices for Bolivarian Republic of Venezuela' measures the proportion of a country's GDP that is attributed to labour compensation. This metric provides insights into the distribution of economic output between workers and other factors of production.
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 series represents the percentage of Venezuela's GDP that is allocated to compensating labour, including wages, salaries, and benefits. Economists analyze this metric to assess the balance between labour and capital in the national economy and how it evolves over time.
Methodology
The data is calculated by the Federal Reserve using national accounts data from Venezuela.
Historical Context
Policymakers and analysts use this indicator to evaluate the strength of the labour market and the degree of income inequality within the Venezuelan economy.
Key Facts
- Venezuela's labour compensation share of GDP was 31.9% in 2020.
- This metric has declined from over 45% in the early 2000s.
- The falling labour share indicates a shift towards capital-intensive production in Venezuela.
FAQs
Q: What does this economic trend measure?
A: This indicator represents the percentage of Venezuela's GDP that is allocated to compensating labour, including wages, salaries, and benefits.
Q: Why is this trend relevant for users or analysts?
A: Economists analyze the labour compensation share to assess the balance between labour and capital in the national economy and how income is distributed.
Q: How is this data collected or calculated?
A: The data is calculated by the Federal Reserve using national accounts data from Venezuela.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this indicator to evaluate the strength of the labour market and the degree of income inequality within the Venezuelan economy.
Q: Are there update delays or limitations?
A: The data may be subject to delays or revisions due to the challenges of collecting comprehensive national accounts information for Venezuela.
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Citation
U.S. Federal Reserve, Share of Labour Compensation in GDP at Current National Prices for Bolivarian Republic of Venezuela (LABSHPVEA156NRUG), retrieved from FRED.