Note 1-6
- Japanese version
- English version
6 Labor share is defined in terms of the following formula:
Labor share = (wages x number of workers employed) / (real GDP x GDP deflator)
= (wages / GDP deflator) / (real GDP / number of workers employed)
= real wages / labor productivity
= (wages x number of workers employed / real GDP) / GDP deflator
= unit labor cost / GDP deflator