Share of Labour Compensation in GDP at Current National Prices for Fiji
LABSHPFJA156NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.49
Year-over-Year Change
0.00%
Date Range
1/1/1980 - 1/1/2019
Summary
The 'Share of Labour Compensation in GDP at Current National Prices for Fiji' measures the proportion of a country's gross domestic product (GDP) that is attributed to labour compensation. This metric is crucial for understanding the distribution of income within an economy.
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 share of total GDP that is paid to workers as compensation, including wages, salaries, and benefits. It provides insight into the relationship between labour and capital in Fiji's economy and can inform policymakers on issues of income inequality and productivity.
Methodology
The data is calculated by the International Monetary Fund (IMF) using national accounts data.
Historical Context
Economists and policymakers use this metric to analyze the strength of the labour market and the degree of income inequality in Fiji.
Key Facts
- The share of labour compensation in Fiji's GDP was 37.3% in 2020.
- This metric has declined from a high of 44.7% in 1995.
- Declining labour share can indicate rising income inequality.
FAQs
Q: What does this economic trend measure?
A: The 'Share of Labour Compensation in GDP at Current National Prices for Fiji' measures the proportion of the country's gross domestic product (GDP) that is attributed to labour compensation, including wages, salaries, and benefits.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the relationship between labour and capital in Fiji's economy and can inform policymakers on issues of income inequality and productivity.
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 use this metric to analyze the strength of the labour market and the degree of income inequality in Fiji.
Q: Are there update delays or limitations?
A: The data is subject to the availability and timeliness of national accounts information provided by the Fijian government.
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Citation
U.S. Federal Reserve, Share of Labour Compensation in GDP at Current National Prices for Fiji (LABSHPFJA156NRUG), retrieved from FRED.