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
References: Add references at CitEc
Citations: View citations in EconPapers (2)
Downloads: (external link)
https://www.aeaweb.org/doi/10.1257/jep.38.2.107 (application/pdf)
https://www.aeaweb.org/doi/10.1257/jep.38.2.107.appx (application/pdf)
https://www.aeaweb.org/doi/10.1257/jep.38.2.107.ds (application/zip)
Related works:
Working Paper: Perspectives on the Labor Share (2024) 
Working Paper: Perspectives on the Labor Share (2023) 
Working Paper: Perspectives on the Labor Share (2023) 
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:aea:jecper:v:38:y:2024:i:2:p:107-36
Ordering information: This journal article can be ordered from
https://www.aeaweb.org/journals/subscriptions
DOI: 10.1257/jep.38.2.107
Access Statistics for this article
Journal of Economic Perspectives is currently edited by Enrico Moretti
More articles in Journal of Economic Perspectives from American Economic Association Contact information at EDIRC.
Bibliographic data for series maintained by Michael P. Albert ().