Jobs
Labor’s Share of US GDP Drops to Record Low in Data Back to 1947
Employees pour melted aluminum while working in a foundry in Fort Collins, Colorado.
Photographer: Matthew Staver/BloombergThe portion of US economic output that goes to workers in the form of wages and salaries plunged to the lowest level on record in the third quarter of last year, data from the Bureau of Labor Statistics show.
The measure known as the labor share fell to 53.8% in the period, down from 54.6% in the previous quarter and an average of 55.6% in the 2020s so far, according to the BLS report on labor productivity and costs published Thursday.