Perspectives on the Labor Share
Bibliographic Data
| ID | 4030237 |
|---|---|
| Authors | Loukas Karabarbounis (Loukas Karabarbounis is Professor of Economics, University of Minnesota, and Research Consultant, Federal Reserve Bank of Minneapolis, both in Minneapolis, Minnesota. ., corresponding author) |
| Year | 2024 |
| Volume | 38 |
| Issue | 2 |
| Pages | 107-136 |
| Publication date | 2024-05-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | The Journal of Economic Perspectives (JOURNAL) |
| Journal identifiers | ISSN: 0895-3309 • E-ISSN: 1944-7965 |
| Publisher | American Economic Association (PUBLISHER • US) |
| DOI | 10.1257/jep.38.2.107 |
| OpenAlex | W4396678606 |
| Language | EN |
| Citations received | 4 |
| References cited | 12 |
As of 2022, the share of US 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
Business · Economics · Labour economics · Global trade and economics · Labor market dynamics and wage inequality
| Unique citing works | 4 |
|---|---|
| Citations per year | 4 |
| Citation span | 2025 - 2025 (1) |
| Citation velocity | recent |
| Highly cited | No |
| Citation types | Neutral: 4 |