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Workers’ Share of Income

Labor share of U.S. nonfarm business output, quarterly, index

93.4 in Q2 2026the lowest in data back to 2021−7.0 since Q2 2021
YTD1y2y5y10y20yAll
ForecastOffContinuationForesight™
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U.S. recessionsShades the months the NBER dates as recession. U.S. charts only.5-year rangeThe highest and lowest readings of the last five years, as a band. One-series charts only.High and lowMarks the highest and lowest readings in the window shown.
Reading overdue·Data to Q2 2026

Plays the chart through its history. Pauses are where the data set a record or moved most.

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Compensation of all workers, including an estimate for the self-employed, as a share of output. An index with the base year set to one hundred, from the Bureau of Labor Statistics.

How much of what U.S. businesses produce is paid out to workers, with the rest going to profits, interest and depreciation. The share drifted down from the early two-thousands; a fall while output rises means owners of capital are taking more of the gains.

What this chart reads

Sources

U.S. Labor Share (Nonfarm Business). Source: Bureau of Labor Statistics, series PRS85006173 ("Nonfarm Business Sector: Labor Share for All Workers"). Palanor pulls it from the FRED API (Federal Reserve Bank of St. Louis) nightly. Bureau of Labor Statistics data are in the public domain.

Charts are drawn from Palanor's signal library and recomputed from source data on every view. Transformations (changes, indexing, year-on-year rates) are Palanor's.

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