Two measures of labor’s share, 1947–2018
Date | EPI labor share | BLS labor share |
---|---|---|
1947Q1 | 105.8 | 116.4 |
1947Q2 | 103.2 | 114.8 |
1947Q3 | 104.0 | 116.6 |
1947Q4 | 103.6 | 115.0 |
1948Q1 | 101.3 | 115.2 |
1948Q2 | 100.1 | 115.1 |
1948Q3 | 101.5 | 115.1 |
1948Q4 | 100.5 | 114.2 |
1949Q1 | 101.3 | 114.5 |
1949Q2 | 102.6 | 114.7 |
1949Q3 | 101.2 | 112.6 |
1949Q4 | 103.6 | 113.2 |
1950Q1 | 101.8 | 111.9 |
1950Q2 | 100.0 | 112.6 |
1950Q3 | 98.4 | 111.1 |
1950Q4 | 97.3 | 111.4 |
1951Q1 | 99.1 | 110.8 |
1951Q2 | 100.1 | 112.1 |
1951Q3 | 100.1 | 110.2 |
1951Q4 | 99.7 | 111.2 |
1952Q1 | 101.8 | 111.7 |
1952Q2 | 103.1 | 112.6 |
1952Q3 | 103.6 | 113.3 |
1952Q4 | 102.2 | 113.0 |
1953Q1 | 102.2 | 113.2 |
1953Q2 | 103.1 | 113.5 |
1953Q3 | 103.8 | 113.8 |
1953Q4 | 108.0 | 115.2 |
1954Q1 | 106.2 | 115.6 |
1954Q2 | 105.3 | 114.8 |
1954Q3 | 104.1 | 113.8 |
1954Q4 | 102.6 | 113.1 |
1955Q1 | 100.3 | 111.2 |
1955Q2 | 100.3 | 111.4 |
1955Q3 | 101.0 | 111.8 |
1955Q4 | 101.1 | 112.1 |
1956Q1 | 102.7 | 114.2 |
1956Q2 | 103.2 | 115.1 |
1956Q3 | 103.7 | 115.4 |
1956Q4 | 103.9 | 115.4 |
1957Q1 | 103.6 | 114.4 |
1957Q2 | 104.4 | 115.4 |
1957Q3 | 105.0 | 114.7 |
1957Q4 | 106.6 | 115.5 |
1958Q1 | 108.9 | 116.8 |
1958Q2 | 107.9 | 115.4 |
1958Q3 | 106.3 | 115.3 |
1958Q4 | 104.2 | 113.3 |
1959Q1 | 103.5 | 113.8 |
1959Q2 | 102.3 | 113.4 |
1959Q3 | 104.8 | 113.4 |
1959Q4 | 105.1 | 114.3 |
1960Q1 | 104.1 | 114.0 |
1960Q2 | 105.9 | 116.3 |
1960Q3 | 106.2 | 115.8 |
1960Q4 | 107.0 | 117.5 |
1961Q1 | 107.5 | 116.9 |
1961Q2 | 105.9 | 115.3 |
1961Q3 | 105.1 | 114.1 |
1961Q4 | 103.8 | 113.9 |
1962Q1 | 103.9 | 113.4 |
1962Q2 | 104.5 | 114.2 |
1962Q3 | 104.1 | 113.0 |
1962Q4 | 103.6 | 113.2 |
1963Q1 | 103.7 | 113.4 |
1963Q2 | 102.9 | 113.1 |
1963Q3 | 102.8 | 111.5 |
1963Q4 | 102.8 | 112.2 |
1964Q1 | 101.9 | 110.9 |
1964Q2 | 102.2 | 111.2 |
1964Q3 | 102.2 | 110.9 |
1964Q4 | 102.7 | 112.5 |
1965Q1 | 100.9 | 111.0 |
1965Q2 | 100.8 | 111.0 |
1965Q3 | 100.8 | 109.5 |
1965Q4 | 100.2 | 108.8 |
1966Q1 | 99.9 | 108.9 |
1966Q2 | 101.0 | 110.3 |
1966Q3 | 101.9 | 110.6 |
1966Q4 | 102.0 | 110.2 |
1967Q1 | 102.7 | 110.2 |
1967Q2 | 103.1 | 111.0 |
1967Q3 | 103.4 | 111.0 |
1967Q4 | 103.1 | 111.1 |
1968Q1 | 103.7 | 110.4 |
1968Q2 | 103.4 | 110.0 |
1968Q3 | 103.7 | 111.0 |
1968Q4 | 103.8 | 111.9 |
1969Q1 | 104.4 | 111.3 |
1969Q2 | 105.5 | 112.7 |
1969Q3 | 106.5 | 113.5 |
1969Q4 | 107.8 | 115.1 |
1970Q1 | 109.7 | 115.5 |
1970Q2 | 108.8 | 114.0 |
1970Q3 | 109.0 | 113.5 |
1970Q4 | 109.9 | 114.0 |
1971Q1 | 107.8 | 111.8 |
1971Q2 | 107.9 | 111.8 |
1971Q3 | 107.6 | 111.2 |
1971Q4 | 107.3 | 112.6 |
1972Q1 | 107.2 | 112.5 |
1972Q2 | 107.4 | 111.2 |
1972Q3 | 107.0 | 111.4 |
1972Q4 | 106.4 | 111.8 |
1973Q1 | 106.4 | 111.6 |
1973Q2 | 107.4 | 111.8 |
1973Q3 | 107.8 | 113.4 |
1973Q4 | 107.7 | 113.7 |
1974Q1 | 109.0 | 114.0 |
1974Q2 | 109.1 | 113.2 |
1974Q3 | 109.9 | 114.2 |
1974Q4 | 110.3 | 112.9 |
1975Q1 | 109.8 | 111.8 |
1975Q2 | 108.1 | 110.7 |
1975Q3 | 105.9 | 109.6 |
1975Q4 | 106.0 | 109.7 |
1976Q1 | 105.1 | 108.9 |
1976Q2 | 106.1 | 108.7 |
1976Q3 | 106.5 | 109.2 |
1976Q4 | 107.2 | 109.2 |
1977Q1 | 106.8 | 109.1 |
1977Q2 | 105.2 | 109.1 |
1977Q3 | 104.3 | 108.6 |
1977Q4 | 105.2 | 110.0 |
1978Q1 | 106.8 | 111.6 |
1978Q2 | 104.6 | 109.3 |
1978Q3 | 104.9 | 109.2 |
1978Q4 | 104.9 | 109.0 |
1979Q1 | 106.4 | 111.1 |
1979Q2 | 107.0 | 110.7 |
1979Q3 | 108.1 | 111.0 |
1979Q4 | 108.8 | 111.8 |
1980Q1 | 109.4 | 111.5 |
1980Q2 | 111.4 | 112.5 |
1980Q3 | 110.3 | 113.2 |
1980Q4 | 108.6 | 112.6 |
1981Q1 | 108.2 | 110.2 |
1981Q2 | 108.3 | 111.3 |
1981Q3 | 107.2 | 110.4 |
1981Q4 | 108.3 | 111.4 |
1982Q1 | 109.7 | 113.4 |
1982Q2 | 108.9 | 112.9 |
1982Q3 | 109.0 | 113.0 |
1982Q4 | 109.8 | 112.5 |
1983Q1 | 109.0 | 111.7 |
1983Q2 | 107.6 | 109.9 |
1983Q3 | 107.0 | 108.4 |
1983Q4 | 106.4 | 108.4 |
1984Q1 | 104.8 | 109.0 |
1984Q2 | 105.0 | 108.5 |
1984Q3 | 105.7 | 108.7 |
1984Q4 | 105.5 | 108.9 |
1985Q1 | 105.7 | 108.7 |
1985Q2 | 106.0 | 108.7 |
1985Q3 | 105.6 | 108.2 |
1985Q4 | 107.4 | 109.5 |
1986Q1 | 107.9 | 109.2 |
1986Q2 | 109.0 | 109.5 |
1986Q3 | 110.0 | 110.3 |
1986Q4 | 110.4 | 111.6 |
1987Q1 | 110.3 | 111.9 |
1987Q2 | 109.2 | 111.4 |
1987Q3 | 108.6 | 111.6 |
1987Q4 | 109.3 | 111.5 |
1988Q1 | 109.4 | 112.3 |
1988Q2 | 109.3 | 112.3 |
1988Q3 | 109.1 | 112.1 |
1988Q4 | 108.3 | 111.4 |
1989Q1 | 108.9 | 111.1 |
1989Q2 | 109.2 | 109.8 |
1989Q3 | 109.3 | 109.5 |
1989Q4 | 110.6 | 110.5 |
1990Q1 | 110.4 | 110.5 |
1990Q2 | 110.2 | 110.8 |
1990Q3 | 111.7 | 111.0 |
1990Q4 | 112.3 | 112.0 |
1991Q1 | 111.0 | 111.3 |
1991Q2 | 111.3 | 111.0 |
1991Q3 | 111.8 | 110.6 |
1991Q4 | 112.4 | 111.2 |
1992Q1 | 111.9 | 111.6 |
1992Q2 | 112.2 | 111.3 |
1992Q3 | 112.8 | 111.0 |
1992Q4 | 112.0 | 110.1 |
1993Q1 | 112.6 | 109.5 |
1993Q2 | 111.6 | 110.3 |
1993Q3 | 111.5 | 109.6 |
1993Q4 | 109.8 | 109.3 |
1994Q1 | 109.8 | 108.0 |
1994Q2 | 109.6 | 108.3 |
1994Q3 | 108.8 | 108.2 |
1994Q4 | 108.4 | 107.4 |
1995Q1 | 108.8 | 107.5 |
1995Q2 | 108.4 | 107.4 |
1995Q3 | 107.3 | 107.7 |
1995Q4 | 107.5 | 107.7 |
1996Q1 | 106.7 | 107.8 |
1996Q2 | 106.7 | 107.4 |
1996Q3 | 106.9 | 107.4 |
1996Q4 | 107.0 | 107.4 |
1997Q1 | 106.5 | 108.2 |
1997Q2 | 106.4 | 107.3 |
1997Q3 | 105.5 | 107.1 |
1997Q4 | 105.9 | 108.2 |
1998Q1 | 107.4 | 109.3 |
1998Q2 | 107.8 | 110.0 |
1998Q3 | 107.7 | 110.0 |
1998Q4 | 108.5 | 109.9 |
1999Q1 | 108.3 | 110.1 |
1999Q2 | 108.6 | 110.0 |
1999Q3 | 109.2 | 109.6 |
1999Q4 | 109.7 | 109.6 |
2000Q1 | 110.3 | 113.3 |
2000Q2 | 110.4 | 110.8 |
2000Q3 | 111.0 | 112.4 |
2000Q4 | 112.0 | 111.4 |
2001Q1 | 112.1 | 113.9 |
2001Q2 | 111.6 | 111.8 |
2001Q3 | 111.8 | 111.4 |
2001Q4 | 113.2 | 110.8 |
2002Q1 | 110.7 | 108.9 |
2002Q2 | 110.4 | 109.2 |
2002Q3 | 110.3 | 108.7 |
2002Q4 | 108.9 | 108.7 |
2003Q1 | 108.4 | 107.8 |
2003Q2 | 108.1 | 108.2 |
2003Q3 | 107.6 | 107.1 |
2003Q4 | 107.7 | 107.3 |
2004Q1 | 106.2 | 106.4 |
2004Q2 | 106.0 | 106.9 |
2004Q3 | 105.9 | 107.5 |
2004Q4 | 105.7 | 106.5 |
2005Q1 | 103.8 | 105.2 |
2005Q2 | 103.6 | 105.2 |
2005Q3 | 103.8 | 104.7 |
2005Q4 | 102.2 | 104.4 |
2006Q1 | 101.7 | 105.1 |
2006Q2 | 101.6 | 104.4 |
2006Q3 | 100.7 | 104.4 |
2006Q4 | 102.4 | 105.3 |
2007Q1 | 104.2 | 106.7 |
2007Q2 | 103.6 | 105.6 |
2007Q3 | 105.2 | 104.5 |
2007Q4 | 106.6 | 104.7 |
2008Q1 | 107.2 | 106.3 |
2008Q2 | 107.3 | 104.8 |
2008Q3 | 107.7 | 104.7 |
2008Q4 | 112.8 | 106.2 |
2009Q1 | 107.6 | 102.3 |
2009Q2 | 107.2 | 103.3 |
2009Q3 | 105.8 | 102.3 |
2009Q4 | 104.4 | 101.3 |
2010Q1 | 102.9 | 99.7 |
2010Q2 | 103.4 | 100.1 |
2010Q3 | 100.8 | 99.8 |
2010Q4 | 100.9 | 99.5 |
2011Q1 | 103.7 | 101.6 |
2011Q2 | 102.1 | 100.1 |
2011Q3 | 102.2 | 100.5 |
2011Q4 | 99.8 | 98.2 |
2012Q1 | 99.3 | 99.7 |
2012Q2 | 99.6 | 99.3 |
2012Q3 | 100.0 | 99.2 |
2012Q4 | 101.1 | 101.8 |
2013Q1 | 100.5 | 99.5 |
2013Q2 | 100.8 | 100.3 |
2013Q3 | 101.0 | 99.1 |
2013Q4 | 100.5 | 98.4 |
2014Q1 | 102.2 | 101.2 |
2014Q2 | 99.9 | 99.0 |
2014Q3 | 98.8 | 98.2 |
2014Q4 | 99.4 | 99.7 |
2015Q1 | 99.9 | 100.4 |
2015Q2 | 100.2 | 100.2 |
2015Q3 | 101.0 | 100.2 |
2015Q4 | 101.7 | 100.8 |
2016Q1 | 101.6 | 100.9 |
2016Q2 | 101.5 | 100.0 |
2016Q3 | 101.5 | 99.9 |
2016Q4 | 101.8 | 100.3 |
2017Q1 | 102.5 | 101.0 |
2017Q2 | 102.1 | 100.7 |
2017Q3 | 102.7 | 100.9 |
2017Q4 | 102.7 | 100.7 |
2018Q1 | 102.6 | 101.1 |
2018Q2 | 102.1 | 99.5 |
2018Q3 | 101.3 | 99.4 |
Note: Shaded areas denote recessions. Federal Reserve banks' corporate profits were netted out in the EPI calculation of labor share. EPI labor share measure derived exactly as in Figure A above, but converted to an index with 2012 =100 for comparability with BLS measure.
Source: EPI labor measure is analysis of Bureau of Economic Analysis National Income and Product Accounts (Tables 1.14 and 6.16D). BLS NFB measure is from the U.S. Bureau of Labor Statistics Productivity and Costs (LPC) program, series # PRS85006173. BLS labor share measure retrieved from FRED, Federal Reserve Bank of St. Louis, https://fred.stlouisfed.org/series/PRS85006173, January 24, 2019.