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Perspectives on the Labor Share.
- Source :
- Working Papers Series (Federal Reserve Bank of Minneapolis); Mar2024, p1-24, 55p
- Publication Year :
- 2024
-
Abstract
- As of 2022, the share of U.S. income accruing to labor is at its lowest level since the Great Depression. Updating previous studies with more recent observations, I document the continuing decline of the labor share for the United States, other countries, and various industries. I discuss how changes in technology and product, labor, and capital markets affect the trend of the labor share. I also examine its relationship with other macroeconomic trends, such as rising markups, higher concentration of economic activity, and globalization. I conclude by offering some perspectives on the economic and policy implications of the labor share decline. [ABSTRACT FROM AUTHOR]
- Subjects :
- LABOR market
GREAT Depression, 1929-1939
CAPITAL market
MACROECONOMICS
Subjects
Details
- Language :
- English
- Database :
- Complementary Index
- Journal :
- Working Papers Series (Federal Reserve Bank of Minneapolis)
- Publication Type :
- Report
- Accession number :
- 176522733
- Full Text :
- https://doi.org/10.21034/wp.800