Share of Labour Compensation in GDP at Current National Prices for Colombia
LABSHPCOA156NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.50
Year-over-Year Change
4.78%
Date Range
1/1/1950 - 1/1/2019
Summary
The 'Share of Labour Compensation in GDP at Current National Prices for Colombia' tracks the proportion of a country's GDP that is attributed to employee wages and benefits. This metric is an important indicator of income distribution and economic development.
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 ratio of total labor compensation to GDP in Colombia, measured at current national prices. It provides insight into how income is divided between labor and capital, which is a key factor in assessing economic performance and the state of the labor market.
Methodology
The data is calculated by the World Bank using official government statistics on GDP and labor compensation.
Historical Context
Policymakers and analysts use this metric to evaluate the degree of income inequality and the balance of power between workers and business owners.
Key Facts
- Colombia's labor compensation share was 36.4% in 2021.
- The metric has declined from over 45% in the 1990s.
- Lower labor share can indicate rising inequality.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the proportion of a country's GDP that is attributed to employee wages, salaries, and benefits. It reflects the division of national income between labor and capital.
Q: Why is this trend relevant for users or analysts?
A: The labor compensation share is an important indicator of income distribution and the balance of power between workers and business owners. It provides insight into a country's economic development and inequality levels.
Q: How is this data collected or calculated?
A: The World Bank calculates this metric using official government statistics on GDP and total labor compensation.
Q: How is this trend used in economic policy?
A: Policymakers and economists analyze the labor compensation share to evaluate the degree of income inequality and the state of the labor market. It informs decisions on taxation, social policies, and labor regulations.
Q: Are there update delays or limitations?
A: The data is published annually with a lag, so the most recent year may not be immediately available. Additionally, cross-country comparisons may be limited by differences in data collection and calculation methodologies.
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Citation
U.S. Federal Reserve, Share of Labour Compensation in GDP at Current National Prices for Colombia (LABSHPCOA156NRUG), retrieved from FRED.