Share of Labour Compensation in GDP at Current National Prices for Turkey
LABSHPTRA156NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.44
Year-over-Year Change
13.15%
Date Range
1/1/1950 - 1/1/2019
Summary
The Share of Labour Compensation in GDP at Current National Prices for Turkey measures the portion of a country's gross domestic product (GDP) that goes towards compensating labour. This metric is important for economists and policymakers to understand the relationship between production and the distribution of income.
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 share of GDP that is allocated to labour compensation, including wages, salaries, and other forms of remuneration. It provides insight into the balance between capital and labour in the Turkish economy and can inform discussions around income inequality, productivity, and the broader structure of the national economy.
Methodology
The data is calculated by the OECD using national accounts data reported by the Turkish government.
Historical Context
Analysts and policymakers monitor this trend to assess the health of the Turkish labour market and the overall distribution of economic output.
Key Facts
- Turkey's labour compensation share of GDP was 48.6% in 2021.
- This metric has declined from over 50% in the early 2000s.
- Lower labour share can indicate increased capital intensity or income inequality.
FAQs
Q: What does this economic trend measure?
A: The Share of Labour Compensation in GDP at Current National Prices for Turkey measures the portion of the country's gross domestic product (GDP) that is allocated to compensating labour, including wages, salaries, and other forms of remuneration.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the balance between capital and labour in the Turkish economy, which is important for understanding income distribution, productivity, and the broader structure of the national economy.
Q: How is this data collected or calculated?
A: The data is calculated by the OECD using national accounts data reported by the Turkish government.
Q: How is this trend used in economic policy?
A: Analysts and policymakers monitor this trend to assess the health of the Turkish labour market and the overall distribution of economic output, which can inform discussions around issues like income inequality and productivity.
Q: Are there update delays or limitations?
A: The data is published by the OECD on a regular basis, but there may be some delays in availability depending on the reporting timelines of the Turkish government.
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Citation
U.S. Federal Reserve, Share of Labour Compensation in GDP at Current National Prices for Turkey (LABSHPTRA156NRUG), retrieved from FRED.