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The labour share in G20 economies

This paper reviews recent trends in the labour share in G20 countries (and over a long period of time in a few) and discusses possible causes of the observed trends. It then explores linkages between the labour income share and the main components of aggregate demand. Other critical issues such as the growth and employment impacts of the labour share and policy implications are raised in the paper “Strengthening the link between employment and growth” submitted to the EWG meeting of 26-28 February 2015 and will be discussed in more detail in a follow-up paper for the third EWG meeting (23-25 July 2015).