Table 13.4 Factors affecting the rise in the wage share of income
|
Annual percentage change in variable | ||||
|
Period of r decline |
W/Y |
wR |
YR/N |
CPI/Py |
|
1949–1953 |
0.81 |
4.56 |
4.29 |
0.54 |
|
1955–1957 |
1.88 |
3.13 |
0.46 |
–0.75 |
|
1959–1960 |
1.92 |
2.28 |
1.33 |
0.97 |
|
1965–1969 |
1.47 |
2.55 |
1.61 |
0.53 |
|
1972–1973 |
0.82 |
1.02 |
0.61 |
0.41 |
|
1988–1990 |
0.78 |
–1.64 |
–0.55 |
1.89 |
|
1997–2000 |
1.77 |
2.76 |
2.85 |
1.86 |
|
Source: US Bureau of Economic Analysis, 2006, Tables 1.14, 1.15, 6.5B; US Bureau of Labor Statistics, 2006. Notes The change in variables is shown as an annual percentage rate of change. Definitions of variables: r: rate of profit. W/Y: share of wages in income. wR: real wage. YR/N: real output per full-time equivalent worker. CPI/Py: Ratio of consumer price index to output price index. | ||||