Share of Labour Compensation in GDP at Current National Prices for South Africa
LABSHPZAA156NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.57
Year-over-Year Change
11.32%
Date Range
1/1/1950 - 1/1/2019
Summary
The 'Share of Labour Compensation in GDP at Current National Prices for South Africa' measures the proportion of a country's GDP that goes towards employee compensation. 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 ratio of total employee compensation to GDP, expressed as a percentage. It provides insight into the relative shares of economic output that accrue to labor versus capital, and is used to analyze trends in income inequality and the structure of the national economy.
Methodology
The data is calculated by the OECD using official government statistics on GDP and employee compensation.
Historical Context
This indicator is closely monitored by policymakers, economists, and analysts to assess the fairness of economic growth and inform decisions around taxation, social programs, and labor policies.
Key Facts
- South Africa's labor share of GDP was 51.3% in 2021.
- The labor share has declined by 3 percentage points since 2010.
- High-income countries typically have labor shares around 55-65%.
FAQs
Q: What does this economic trend measure?
A: The 'Share of Labour Compensation in GDP' measures the proportion of a country's GDP that is paid to employees as compensation, including wages, salaries, and benefits.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the distribution of economic output between labor and capital, which is a key factor in assessing income inequality, the structure of the national economy, and the fairness of economic growth.
Q: How is this data collected or calculated?
A: The data is calculated by the OECD using official government statistics on GDP and employee compensation.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and analysts closely monitor this indicator to inform decisions around taxation, social programs, and labor policies that aim to promote a more equitable distribution of economic gains.
Q: Are there update delays or limitations?
A: The data is published annually with a lag of 1-2 years, so the most recent figures may not reflect the current economic situation.
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Citation
U.S. Federal Reserve, Share of Labour Compensation in GDP at Current National Prices for South Africa (LABSHPZAA156NRUG), retrieved from FRED.