A Smaller Slice

Column Published in syndication November 04, 2026

Over the past several decades, workers have been receiving a smaller slice of the economic pie. Recent data indicate that labor's share of output in the nonfarm business sector fell to 52.8% in the second quarter of 2026, the lowest level since record keeping began in 1947. The implications of this milestone are quite significant, but somewhat nuanced. Let's briefly explore what the decline does - and does not - mean.

• Tags:
• labor,
• compensation