“Labor share averaged 64.3 percent from 1947 to 2000. In the United States, the share of GDP going to labor has declined over the past decade, falling to its lowest point in the third quarter of 2010, 57.8 percent.”36 What’s more, this is a global phenomenon. Economists Loukas Karabarbounis and Brent Neiman of the University of Chicago find that “the global labor share has significantly declined since the early 1980s, with the decline occurring within the large majority of countries and industries.”37 They argue that this decline is likely due to the technologies of the information age.
