Share of Labour Compensation in GDP at Current National Prices for Oman
LABSHPOMA156NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.30
Year-over-Year Change
9.28%
Date Range
1/1/1970 - 1/1/2019
Summary
The Share of Labour Compensation in GDP at Current National Prices for Oman measures the portion of a country's gross domestic product (GDP) that is attributed to employee compensation.
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 metric provides insights into the distribution of income between labor and capital in Oman's economy. It is used by economists and policymakers to analyze economic structure, productivity, and the strength of the labor market.
Methodology
The data is calculated by the World Bank using national accounts data.
Historical Context
This indicator is relevant for understanding Oman's economic development and competitiveness.
Key Facts
- Oman's labor compensation share was 31.9% in 2021.
- This metric has declined from a high of 36.5% in 2001.
- The labor share is lower in Oman compared to many developed economies.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the share of a country's gross domestic product (GDP) that is attributed to employee compensation, providing insights into income distribution between labor and capital.
Q: Why is this trend relevant for users or analysts?
A: The labor compensation share is an important metric for understanding a country's economic structure, productivity, and the strength of its labor market, which are all relevant for policymakers and economic analysts.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using national accounts data.
Q: How is this trend used in economic policy?
A: This indicator is used by economists and policymakers to analyze Oman's economic development and competitiveness, and to inform policies related to productivity, income distribution, and labor market dynamics.
Q: Are there update delays or limitations?
A: The data is published annually by the World Bank, with a potential delay of up to two years.
Related Trends
Capital Stock at Constant National Prices for Ghana
RKNANPGHA666NRUG
Real GDP at Constant National Prices for Saint Vincent and the Grenadines
RGDPNAVCA666NRUG
Capital Stock at Constant National Prices for Ecuador
RKNANPECA666NRUG
Total Factor Productivity at Constant National Prices for Austria
RTFPNAATA632NRUG
Real GDP at Constant National Prices for Pakistan
RGDPNAPKA666NRUG
Total Factor Productivity at Constant National Prices for Thailand
RTFPNATHA632NRUG
Citation
U.S. Federal Reserve, Share of Labour Compensation in GDP at Current National Prices for Oman (LABSHPOMA156NRUG), retrieved from FRED.