Share of Labour Compensation in GDP at Current National Prices for Singapore
LABSHPSGA156NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.44
Year-over-Year Change
3.71%
Date Range
1/1/1960 - 1/1/2019
Summary
The Share of Labour Compensation in GDP at Current National Prices for Singapore measures the proportion of a country's GDP that goes towards compensating workers. This metric is a key indicator of income distribution and economic structure.
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 trend represents the share of a country's gross domestic product (GDP) that is attributed to labour compensation, including wages, salaries, and employer contributions. It provides insights into the balance between capital and labour income in the economy.
Methodology
The data is calculated by the International Monetary Fund using official national accounts statistics.
Historical Context
Policymakers use this indicator to assess economic performance and make informed decisions about labour market policies and income distribution.
Key Facts
- Singapore's labour compensation share in GDP was 42.3% in 2021.
- The trend has declined from a high of 47.4% in 1980.
- A higher labour compensation share indicates a more equitable income distribution.
FAQs
Q: What does this economic trend measure?
A: This trend measures the proportion of a country's GDP that is attributed to labour compensation, including wages, salaries, and employer contributions.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insights into the balance between capital and labour income, which is an important factor in assessing economic performance and income distribution.
Q: How is this data collected or calculated?
A: The data is calculated by the International Monetary Fund using official national accounts statistics.
Q: How is this trend used in economic policy?
A: Policymakers use this indicator to assess economic performance and make informed decisions about labour market policies and income distribution.
Q: Are there update delays or limitations?
A: The data is subject to the availability and release schedule of national accounts statistics by the relevant authorities.
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Citation
U.S. Federal Reserve, Share of Labour Compensation in GDP at Current National Prices for Singapore (LABSHPSGA156NRUG), retrieved from FRED.