Labor share of income in first six quarters of recoveries, current and previous recession
| 2020 Q2 | 2009 Q2 | |
|---|---|---|
| -6 | 75.5% | 79.1% |
| -5 | 76.8% | 79.5% |
| -4 | 76.6% | 79.6% |
| -3 | 76.6% | 79.9% |
| -2 | 76.5% | 79.9% |
| -1 | 78.2% | 79.9% |
| 0 | 78.2% | 79.6% |
| 1 | 75.2% | 78.6% |
| 2 | 76.1% | 77.6% |
| 3 | 75.1% | 76.5% |
| 4 | 73.2% | 76.9% |
| 5 | 73.9% | 75.0% |
| 6 | 74.3% | 75.1% |
Notes: Labor share for the fourth quarter of 2008 was smoothed to remove a large spike in the data stemming from large write-offs of underperforming assets in the financial sector during the financial crisis of that year. The vertical line at zero on the horizontal axis denotes the recession’s trough.
Source: Underlying data from Tables 1.14 and 6.16D of the BEA NIPA. More detailed methodology can be found here.