Share of Labour Compensation in GDP at Current National Prices for Senegal
LABSHPSNA156NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.49
Year-over-Year Change
-0.09%
Date Range
1/1/1960 - 1/1/2019
Summary
The 'Share of Labour Compensation in GDP at Current National Prices for Senegal' measures the portion of Senegal's Gross Domestic Product (GDP) that goes towards compensating workers and employees.
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 provides insight into the distribution of national income, representing how much of Senegal's GDP is attributed to labor versus other factors of production like capital. Economists use this data to analyze economic structure and trends in the labor market.
Methodology
The data is calculated by the International Monetary Fund from national accounts statistics.
Historical Context
Policymakers and analysts monitor this trend to understand Senegal's economic development and income distribution.
Key Facts
- Senegal's labor compensation share of GDP was 49.4% in 2021.
- The labor share has declined from over 55% in the 1990s.
- Stable labor share can indicate balanced economic growth.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the portion of Senegal's Gross Domestic Product (GDP) that is attributed to compensating workers and employees.
Q: Why is this trend relevant for users or analysts?
A: The labor compensation share of GDP provides insight into the distribution of national income and can reveal trends in Senegal's economic structure and labor market.
Q: How is this data collected or calculated?
A: The data is calculated by the International Monetary Fund from Senegal's national accounts statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this indicator to understand Senegal's economic development and income distribution patterns.
Q: Are there update delays or limitations?
A: There may be lags in data availability from the underlying national statistics sources.
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Citation
U.S. Federal Reserve, Share of Labour Compensation in GDP at Current National Prices for Senegal (LABSHPSNA156NRUG), retrieved from FRED.