Measuring labors share of income
Abstract: Recent Bureau of Labor Statistics (BLS) data show labors 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 labors share. While data limitations prohibit replication of the BLS series, alternative measures of labors 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.
File(s): File format is application/pdf http://www.clevelandfed.org/Research/PolicyDis/No7Nov04.pdf
Provider: Federal Reserve Bank of Cleveland
Part of Series: Policy Discussion Papers
Publication Date: 2004
Order Number: 7