Share of Labour Compensation in GDP at Current National Prices for Guinea
LABSHPGNA156NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.42
Year-over-Year Change
27.99%
Date Range
1/1/1980 - 1/1/2019
Summary
The 'Share of Labour Compensation in GDP at Current National Prices for Guinea' measures the contribution of labor income to a country's total economic output. This metric is crucial for understanding the distribution of economic gains and informing policymakers.
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 portion of a country's Gross Domestic Product (GDP) that is attributed to employee compensation, including wages, salaries, and benefits. It provides insights into the balance between labor and capital in the production process and can inform discussions around income inequality.
Methodology
The data is calculated by the World Bank using national accounts information.
Historical Context
This labor share metric is widely used by economists and policymakers to assess economic performance and the potential for inclusive growth.
Key Facts
- Guinea's labor compensation share of GDP was 31.9% in 2020.
- The labor share has declined globally over the past few decades.
- High labor share is associated with more equitable income distribution.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the portion of a country's Gross Domestic Product (GDP) that is attributed to employee compensation, including wages, salaries, and benefits.
Q: Why is this trend relevant for users or analysts?
A: The labor share of GDP provides insights into the balance between labor and capital in the production process, which is crucial for understanding the distribution of economic gains and informing policymakers.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using national accounts information.
Q: How is this trend used in economic policy?
A: This labor share metric is widely used by economists and policymakers to assess economic performance and the potential for inclusive growth.
Q: Are there update delays or limitations?
A: The data may be subject to updates and revisions by the collecting institution.
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Citation
U.S. Federal Reserve, Share of Labour Compensation in GDP at Current National Prices for Guinea (LABSHPGNA156NRUG), retrieved from FRED.