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Perspectives on the Labor Share

Loukas Karabarbounis

Journal of Economic Perspectives, 2024, vol. 38, issue 2, 107-36

Abstract: 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.

JEL-codes: D33 E23 E25 F62 (search for similar items in EconPapers)
Date: 2024
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Citations: View citations in EconPapers (2)

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Working Paper: Perspectives on the Labor Share (2024) Downloads
Working Paper: Perspectives on the Labor Share (2023) Downloads
Working Paper: Perspectives on the Labor Share (2023) Downloads
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DOI: 10.1257/jep.38.2.107

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