Share of Labour Compensation in GDP at Current National Prices for Serbia
LABSHPRSA156NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.60
Year-over-Year Change
-7.45%
Date Range
1/1/1970 - 1/1/2019
Summary
The Share of Labour Compensation in GDP at Current National Prices for Serbia measures the proportion of a country's GDP that goes towards compensating workers. This indicator provides insights into the distribution of economic output between labour and capital.
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 represents the total compensation of employees, including wages, salaries, and benefits, as a percentage of Serbia's gross domestic product at current national prices. It offers valuable information about the structure and dynamics of the Serbian economy.
Methodology
The data is calculated by the United Nations based on official national accounts statistics.
Historical Context
This indicator is widely used by economists and policymakers to analyze labour market trends and the balance between labour and capital income.
Key Facts
- Serbia's labour compensation share was 48.4% in 2021.
- The indicator has declined from a high of 57.7% in 1995.
- Labour's share of GDP varies significantly across countries.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the proportion of Serbia's gross domestic product that goes towards compensating employees, including wages, salaries, and benefits.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the distribution of economic output between labour and capital, which is a key factor in understanding the structure and dynamics of the Serbian economy.
Q: How is this data collected or calculated?
A: The data is calculated by the United Nations based on official national accounts statistics.
Q: How is this trend used in economic policy?
A: This indicator is widely used by economists and policymakers to analyze labour market trends and the balance between labour and capital income, which is relevant for policies related to income distribution, productivity, and economic development.
Q: Are there update delays or limitations?
A: The data is subject to the availability and release schedule of official national accounts statistics, which may result in occasional delays or missing observations.
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Citation
U.S. Federal Reserve, Share of Labour Compensation in GDP at Current National Prices for Serbia (LABSHPRSA156NRUG), retrieved from FRED.