Share of Labour Compensation in GDP at Current National Prices for Costa Rica
LABSHPCRA156NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.58
Year-over-Year Change
0.75%
Date Range
1/1/1950 - 1/1/2019
Summary
The 'Share of Labour Compensation in GDP at Current National Prices for Costa Rica' measures the proportion of a country's GDP that is attributed to employee compensation. This metric is useful for analyzing labor's contribution to 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 share of total national income that is earned by workers through wages, salaries, and other forms of compensation. It provides insight into the distribution of value added between labor and capital in the production process.
Methodology
The data is calculated by the United Nations as the ratio of total employee compensation to GDP at current national prices.
Historical Context
This trend is widely used by economists and policymakers to assess the balance between labor and capital in a country's economy.
Key Facts
- Costa Rica's labor compensation share averaged 49.7% from 1950 to 2020.
- The labor share peaked at 52.2% in 1966 and reached a low of 46.5% in 2017.
- Costa Rica's labor share is higher than the OECD average of around 47%.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the proportion of a country's GDP that is attributed to employee compensation, providing insight into the distribution of national income between labor and capital.
Q: Why is this trend relevant for users or analysts?
A: The labor compensation share is a key metric for understanding the balance between labor and capital in a country's economy, which has important implications for income inequality, productivity, and economic policy.
Q: How is this data collected or calculated?
A: The data is calculated by the United Nations as the ratio of total employee compensation to GDP at current national prices.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this indicator to assess the distribution of value added between labor and capital, which informs discussions around income inequality, productivity, and the optimal balance between labor and capital in the economy.
Q: Are there update delays or limitations?
A: The data is published annually by the United Nations with a lag of approximately two years, 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 Costa Rica (LABSHPCRA156NRUG), retrieved from FRED.