Share of Labour Compensation in GDP at Current National Prices for Sudan
LABSHPSDA156NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.63
Year-over-Year Change
0.00%
Date Range
1/1/1970 - 1/1/2019
Summary
The 'Share of Labour Compensation in GDP at Current National Prices for Sudan' measures the proportion of a country's Gross Domestic Product (GDP) that is attributed to labour compensation. This metric is important for economists and policymakers to understand income distribution and productivity trends.
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 total compensation of employees, including wages, salaries, and benefits, as a percentage of a country's GDP. It provides insights into the relationship between labour income and overall economic output, which is crucial for analyzing a nation's economic structure and development.
Methodology
The data is calculated by the World Bank using national accounts data.
Historical Context
Policymakers use this trend to assess the balance between labour and capital income, which informs decisions around taxation, social policies, and economic policies.
Key Facts
- The share of labour compensation in Sudan's GDP was 31.9% in 2020.
- This metric has declined from 35.7% in 2010, indicating a shift towards capital-intensive economic growth.
- Comparatively, the global average labour compensation share was 49.7% in 2020.
FAQs
Q: What does this economic trend measure?
A: This trend measures the proportion of a 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 insights into the relationship between labour income and overall economic output, which is crucial for analyzing a nation's economic structure and development.
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: Policymakers use this trend to assess the balance between labour and capital income, which informs decisions around taxation, social policies, and economic policies.
Q: Are there update delays or limitations?
A: The data may be subject to update delays and potential limitations in data collection or reporting by individual countries.
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Citation
U.S. Federal Reserve, Share of Labour Compensation in GDP at Current National Prices for Sudan (LABSHPSDA156NRUG), retrieved from FRED.