Economics, Econometrics and Finance
4 years ago

Labor share in U.S. manufacturing plunges while productivity soars, impacting workers.

SSRN Electronic Journal
Growing Productivity Without Growing Wages: The Micro-Level Anatomy of the Aggregate Labor Share Decline
Matthias Kehrig, Nicolas Vincent

Paper Summary

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The labor share in U.S. manufacturing has dropped significantly over the past 30 years, with worker compensation decreasing from 67% to 47% of the value added. This decline is unique to the manufacturing sector. However, the labor share at typical manufacturing plants has actually increased by more than 5 percentage points during the same period.