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U.S. labor share declined from 65 percent to 54 percent, Michael Pettis notes

U.S. labor share declined from 65 percent to 54 percent, Michael Pettis notes
U.S. labor share drops to 54 percent

Michael Pettis, economist, professor of finance, nonresident senior fellow, author, macroeconomic analyst at Peking University; Carnegie Endowment for International Peace, highlights data from a recent New York Federal Reserve Bank report showing that the labor share of U.S. national income was around 65 percent in the two decades after World War II but has steadily decreased to its current 54 percent.

Pettis references author Harold Meyerson while underscoring the long-term downward trend in labor's share of income since the postwar period.

Pettis has previously critiqued the McKinsey Global Institute report for confusing global trade imbalance discussions. In an earlier note, he highlighted concerns about China facing economic strains similar to those seen during the 2008-09 crisis. His commentary has focused on trade and macroeconomic imbalances across different regions.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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