{
  "meta": {
    "slug": "the-split",
    "name": "Labor Share of Nonfarm Business Output",
    "branded_name": "The Split",
    "description": null,
    "source": "U.S. Bureau of Labor Statistics data retrieved via FRED",
    "source_credit": null,
    "source_url": "https://fred.stlouisfed.org/series/PRS85006173",
    "frequency": "quarterly",
    "units": "index",
    "fred_series_id": "PRS85006173",
    "fred_edge_series_id": null,
    "bls_series_id": null,
    "series_id": null,
    "measurement_basis": "Seasonally adjusted BLS index of labor share for all workers in the nonfarm business sector, with 2017=100 (series PRS85006173). The level is an index, not a percentage of income or output.",
    "door": 5,
    "trend": "falling",
    "trend_suppressed": null,
    "series_breaks": [],
    "direction": "lower_is_worse",
    "last_updated": "2026-09-03T00:00:00Z",
    "stale": false,
    "stale_reason": null,
    "data_status": "current",
    "page_url": "https://americandefault.org/indicators/the-split/",
    "attribution": "American Default (americandefault.org) — Our analysis is free to use with attribution to American Default Research. Source data stays under each publisher's terms; cite the source named here."
  },
  "current": {
    "value": 93.446,
    "date": "2026-04-01"
  },
  "last_verified": null,
  "data": [
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      "date": "1947-01-01",
      "value": 115.996
    },
    {
      "date": "1947-04-01",
      "value": 114.395
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    {
      "date": "1947-07-01",
      "value": 116.239
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    {
      "date": "1947-10-01",
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    {
      "date": "1948-01-01",
      "value": 114.793
    },
    {
      "date": "1948-04-01",
      "value": 114.747
    },
    {
      "date": "1948-07-01",
      "value": 114.742
    },
    {
      "date": "1948-10-01",
      "value": 113.804
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    {
      "date": "1949-01-01",
      "value": 114.109
    },
    {
      "date": "1949-04-01",
      "value": 114.314
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    {
      "date": "1949-07-01",
      "value": 112.159
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    {
      "date": "1949-10-01",
      "value": 112.792
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    {
      "date": "1950-01-01",
      "value": 111.495
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    {
      "date": "1950-04-01",
      "value": 112.161
    },
    {
      "date": "1950-07-01",
      "value": 110.734
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    {
      "date": "1950-10-01",
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    {
      "date": "1951-01-01",
      "value": 110.475
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    {
      "date": "1951-04-01",
      "value": 111.77
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    {
      "date": "1951-07-01",
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    {
      "date": "1951-10-01",
      "value": 110.905
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      "value": 111.412
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    {
      "date": "1952-04-01",
      "value": 112.321
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    {
      "date": "1952-07-01",
      "value": 113.002
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      "date": "1952-10-01",
      "value": 112.693
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      "date": "1953-01-01",
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    {
      "date": "1953-04-01",
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    {
      "date": "1953-07-01",
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      "date": "1953-10-01",
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      "date": "1954-01-01",
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    {
      "date": "1954-04-01",
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    {
      "date": "1954-07-01",
      "value": 113.412
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    {
      "date": "1954-10-01",
      "value": 112.749
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    {
      "date": "1955-01-01",
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    {
      "date": "1955-04-01",
      "value": 111.038
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    {
      "date": "1955-07-01",
      "value": 111.466
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    {
      "date": "1955-10-01",
      "value": 111.784
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    {
      "date": "1956-01-01",
      "value": 113.848
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    {
      "date": "1956-04-01",
      "value": 114.78
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    {
      "date": "1956-07-01",
      "value": 115.087
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    {
      "date": "1956-10-01",
      "value": 115.106
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      "date": "1957-01-01",
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    {
      "date": "1957-04-01",
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    {
      "date": "1957-07-01",
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    {
      "date": "1957-10-01",
      "value": 115.181
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    {
      "date": "1958-01-01",
      "value": 116.379
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      "date": "1958-04-01",
      "value": 115.039
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    {
      "date": "1958-07-01",
      "value": 114.94
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    {
      "date": "1958-10-01",
      "value": 112.982
    },
    {
      "date": "1959-01-01",
      "value": 113.424
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    {
      "date": "1959-04-01",
      "value": 113.039
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    {
      "date": "1959-07-01",
      "value": 113.081
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    {
      "date": "1959-10-01",
      "value": 113.952
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    {
      "date": "1960-01-01",
      "value": 113.619
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    {
      "date": "1960-04-01",
      "value": 115.916
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    {
      "date": "1960-07-01",
      "value": 115.455
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    {
      "date": "1960-10-01",
      "value": 117.123
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    {
      "date": "1961-01-01",
      "value": 116.542
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    {
      "date": "1961-04-01",
      "value": 114.929
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    {
      "date": "1961-07-01",
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    {
      "date": "1961-10-01",
      "value": 113.586
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    {
      "date": "1962-01-01",
      "value": 113.026
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    {
      "date": "1962-04-01",
      "value": 113.834
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    {
      "date": "1962-07-01",
      "value": 112.626
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    {
      "date": "1962-10-01",
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    {
      "date": "1963-01-01",
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    {
      "date": "1963-04-01",
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      "date": "1963-07-01",
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    {
      "date": "1963-10-01",
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    {
      "date": "1964-01-01",
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    {
      "date": "1964-04-01",
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    {
      "date": "1964-07-01",
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    {
      "date": "1964-10-01",
      "value": 112.116
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    {
      "date": "1965-01-01",
      "value": 110.624
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    {
      "date": "1965-04-01",
      "value": 110.69
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    {
      "date": "1965-07-01",
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    {
      "date": "1965-10-01",
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    {
      "date": "1966-01-01",
      "value": 108.609
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    {
      "date": "1966-04-01",
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    {
      "date": "1966-07-01",
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    {
      "date": "1966-10-01",
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      "date": "1967-01-01",
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    {
      "date": "1967-04-01",
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      "date": "1967-07-01",
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    {
      "date": "1967-10-01",
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      "date": "1968-01-01",
      "value": 110.125
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    {
      "date": "1968-04-01",
      "value": 109.682
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    {
      "date": "1968-07-01",
      "value": 110.716
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    {
      "date": "1968-10-01",
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    {
      "date": "1969-01-01",
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    {
      "date": "1969-04-01",
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    {
      "date": "1969-07-01",
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    {
      "date": "1969-10-01",
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    {
      "date": "1970-01-01",
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    {
      "date": "1970-04-01",
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      "date": "1970-07-01",
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      "date": "1970-10-01",
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      "date": "1971-01-01",
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      "date": "1971-04-01",
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    {
      "date": "1971-07-01",
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      "date": "1971-10-01",
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      "date": "1972-01-01",
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      "date": "1972-04-01",
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      "date": "1972-07-01",
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    {
      "date": "1972-10-01",
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      "date": "1973-01-01",
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    {
      "date": "1973-04-01",
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    {
      "date": "1973-07-01",
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    {
      "date": "1973-10-01",
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      "date": "1974-01-01",
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    {
      "date": "1974-04-01",
      "value": 112.917
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    {
      "date": "1974-07-01",
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    {
      "date": "1974-10-01",
      "value": 112.602
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    {
      "date": "1975-01-01",
      "value": 111.474
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    {
      "date": "1975-04-01",
      "value": 110.375
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    {
      "date": "1975-07-01",
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    {
      "date": "1975-10-01",
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    {
      "date": "1976-01-01",
      "value": 108.64
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    {
      "date": "1976-04-01",
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    {
      "date": "1976-07-01",
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    {
      "date": "1976-10-01",
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    {
      "date": "1977-01-01",
      "value": 108.784
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    {
      "date": "1977-04-01",
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    {
      "date": "1977-07-01",
      "value": 108.324
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    {
      "date": "1977-10-01",
      "value": 109.712
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    {
      "date": "1978-01-01",
      "value": 111.254
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    {
      "date": "1978-04-01",
      "value": 108.998
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    {
      "date": "1978-07-01",
      "value": 108.946
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    {
      "date": "1978-10-01",
      "value": 108.758
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    {
      "date": "1979-01-01",
      "value": 110.772
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    {
      "date": "1979-04-01",
      "value": 110.435
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    {
      "date": "1979-07-01",
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    {
      "date": "1979-10-01",
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    {
      "date": "1980-01-01",
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      "date": "1980-04-01",
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    {
      "date": "1980-07-01",
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    {
      "date": "1980-10-01",
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      "date": "1981-01-01",
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      "date": "1981-04-01",
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    {
      "date": "1981-07-01",
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    {
      "date": "1981-10-01",
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    {
      "date": "1982-01-01",
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      "date": "1982-04-01",
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    {
      "date": "1982-07-01",
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    {
      "date": "1982-10-01",
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    {
      "date": "1983-01-01",
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      "date": "1983-04-01",
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    {
      "date": "1983-07-01",
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    {
      "date": "1983-10-01",
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    {
      "date": "1984-01-01",
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    {
      "date": "1984-04-01",
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    {
      "date": "1984-07-01",
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    {
      "date": "1984-10-01",
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    {
      "date": "1985-01-01",
      "value": 108.367
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    {
      "date": "1985-04-01",
      "value": 108.403
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    {
      "date": "1985-07-01",
      "value": 107.834
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      "date": "1985-10-01",
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      "date": "1986-01-01",
      "value": 108.895
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    {
      "date": "1986-04-01",
      "value": 109.212
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    {
      "date": "1986-07-01",
      "value": 109.951
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    {
      "date": "1986-10-01",
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    {
      "date": "1987-01-01",
      "value": 111.588
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    {
      "date": "1987-04-01",
      "value": 111.035
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    {
      "date": "1987-07-01",
      "value": 111.278
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    {
      "date": "1987-10-01",
      "value": 111.148
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    {
      "date": "1988-01-01",
      "value": 111.922
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    {
      "date": "1988-04-01",
      "value": 111.969
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    {
      "date": "1988-07-01",
      "value": 111.745
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    {
      "date": "1988-10-01",
      "value": 111.038
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    {
      "date": "1989-01-01",
      "value": 110.723
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    {
      "date": "1989-04-01",
      "value": 109.476
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    {
      "date": "1989-07-01",
      "value": 109.166
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    {
      "date": "1989-10-01",
      "value": 110.149
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    {
      "date": "1990-01-01",
      "value": 110.182
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    {
      "date": "1990-04-01",
      "value": 110.469
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    {
      "date": "1990-07-01",
      "value": 110.63
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    {
      "date": "1990-10-01",
      "value": 111.612
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    {
      "date": "1991-01-01",
      "value": 110.903
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    {
      "date": "1991-04-01",
      "value": 110.64
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    {
      "date": "1991-07-01",
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    {
      "date": "1991-10-01",
      "value": 110.855
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    {
      "date": "1992-01-01",
      "value": 111.299
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    {
      "date": "1992-04-01",
      "value": 110.934
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    {
      "date": "1992-07-01",
      "value": 110.669
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    {
      "date": "1992-10-01",
      "value": 109.764
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    {
      "date": "1993-01-01",
      "value": 109.14
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    {
      "date": "1993-04-01",
      "value": 109.978
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    {
      "date": "1993-07-01",
      "value": 109.225
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    {
      "date": "1993-10-01",
      "value": 108.995
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    {
      "date": "1994-01-01",
      "value": 107.681
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    {
      "date": "1994-04-01",
      "value": 107.989
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    {
      "date": "1994-07-01",
      "value": 107.897
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    {
      "date": "1994-10-01",
      "value": 107.053
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    {
      "date": "1995-01-01",
      "value": 107.167
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    {
      "date": "1995-04-01",
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      "date": "1995-07-01",
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    {
      "date": "1995-10-01",
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    {
      "date": "1996-01-01",
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    {
      "date": "1996-04-01",
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    {
      "date": "1996-07-01",
      "value": 107.093
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    {
      "date": "1996-10-01",
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    {
      "date": "1997-01-01",
      "value": 107.891
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    {
      "date": "1997-04-01",
      "value": 106.938
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    {
      "date": "1997-07-01",
      "value": 106.75
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    {
      "date": "1997-10-01",
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    {
      "date": "1998-01-01",
      "value": 109.022
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    {
      "date": "1998-04-01",
      "value": 109.741
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    {
      "date": "1998-07-01",
      "value": 109.706
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    {
      "date": "1998-10-01",
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    {
      "date": "1999-01-01",
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      "date": "1999-04-01",
      "value": 109.622
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      "date": "1999-07-01",
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      "date": "1999-10-01",
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      "date": "2000-01-01",
      "value": 112.828
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      "date": "2000-04-01",
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      "date": "2000-07-01",
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      "date": "2000-10-01",
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    {
      "date": "2001-01-01",
      "value": 113.626
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    {
      "date": "2001-04-01",
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    {
      "date": "2001-07-01",
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      "date": "2001-10-01",
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    {
      "date": "2002-01-01",
      "value": 108.749
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      "date": "2002-04-01",
      "value": 109.038
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    {
      "date": "2002-07-01",
      "value": 108.494
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    {
      "date": "2002-10-01",
      "value": 108.462
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    {
      "date": "2003-01-01",
      "value": 107.592
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    {
      "date": "2003-04-01",
      "value": 107.826
    },
    {
      "date": "2003-07-01",
      "value": 106.741
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    {
      "date": "2003-10-01",
      "value": 106.88
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    {
      "date": "2004-01-01",
      "value": 105.994
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    {
      "date": "2004-04-01",
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    },
    {
      "date": "2004-07-01",
      "value": 107.154
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    {
      "date": "2004-10-01",
      "value": 106.095
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    {
      "date": "2005-01-01",
      "value": 104.707
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    {
      "date": "2005-04-01",
      "value": 104.688
    },
    {
      "date": "2005-07-01",
      "value": 104.315
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    {
      "date": "2005-10-01",
      "value": 103.982
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    {
      "date": "2006-01-01",
      "value": 104.602
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    {
      "date": "2006-04-01",
      "value": 103.952
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    {
      "date": "2006-07-01",
      "value": 103.934
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    {
      "date": "2006-10-01",
      "value": 104.823
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    {
      "date": "2007-01-01",
      "value": 106.073
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    {
      "date": "2007-04-01",
      "value": 104.952
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    {
      "date": "2007-07-01",
      "value": 104.096
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    {
      "date": "2007-10-01",
      "value": 104.334
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    {
      "date": "2008-01-01",
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    {
      "date": "2008-04-01",
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    {
      "date": "2008-07-01",
      "value": 104.231
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    {
      "date": "2008-10-01",
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    {
      "date": "2009-01-01",
      "value": 102.041
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    {
      "date": "2009-04-01",
      "value": 102.951
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    {
      "date": "2009-07-01",
      "value": 102.03
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    {
      "date": "2009-10-01",
      "value": 100.997
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    {
      "date": "2010-01-01",
      "value": 99.433
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    {
      "date": "2010-04-01",
      "value": 99.828
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    {
      "date": "2010-07-01",
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}