Description
Title: Convergence in the European Union’s Labor Share
Abstract: The issue of labor share convergence between Western Europe (EU15) and Central and Eastern Europe is examined in the article (EU11). According to the findings of our study, the labor share convergence between the EU11 and the EU15 was almost 40% overall for the years 2009 to 2018. Three of the four major sectors—manufacturing, services, and construction—saw convergence of labor share between the EU11 and the EU15 at the sectoral level, whereas the trade sector saw divergence. Manufacturing experienced the highest level of convergence at the sectoral level—more than 89.7%. The convergence of labor share in the service sector was close to 45%, but this was primarily because the convergence in the information and communication industry was close to 87.8%. We have found that there is an inverse relationship between the level of the labor share and its dynamics for a number of sectors and industries, which affects the convergence of the labour share between the EU11 and the EU15. In addition, we found that, during the review period, the level of convergence of the labor share between the EU11 and the EU15 was five times greater than the level of convergence of the economy and identified the primary causes of this difference.
Keywords: labour share convergence; personnel cost; Central and Eastern Europe; Western Europe
Paper Quality: SCOPUS / Web of Science Level Research Paper
Subject: Economics
Writer Experience: 20+ Years
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