Measuring labor’s share of income
AbstractRecent Bureau of Labor Statistics (BLS) data show labor’s share of income at a historic low. This Policy Discussion Paper explores the BLS calculations with an eye to understanding the factors leading to the recent fall in labor’s share. While data limitations prohibit replication of the BLS series, alternative measures of labor’s share of income, based on either the nonfinancial corporate business sector or the macroeconomy more generally, are near their historic averages, quite unlike the BLS series.
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Bibliographic InfoArticle provided by Federal Reserve Bank of Cleveland in its journal Policy Discussion Papers.
Volume (Year): (2004)
Issue (Month): Nov ()
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