AI Workforce
⚡ Leading Signal

The Split

BLS seasonally adjusted labor-share index, 2017=100

Currently elevated — historically leads Gas Affordability Ratio by 0 quarter. Gas Affordability Ratio · View projections

What is the current Split reading?

LABOR SHARE INDEX (2017=100)
93.5 ↓ Worsening
BLS nonfarm business labor-share index, seasonally adjusted

Nonfarm Business Labor Share Index (2017=100): 93.5 as of 2026-Q2, and worsening. Source: U.S. Bureau of Labor Statistics data retrieved via FRED (PRS85006173).

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.

The Split labor-share index is below its 2017 reference

BLS seasonally adjusted nonfarm business labor-share index, 2017=100. The level is an index, not a percentage of income or output.

Source: U.S. Bureau of Labor Statistics data retrieved via FRED · Source data ↗
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How has The Split changed over time?

CSV Chart
Nonfarm business labor-share index (2017=100)
Nonfarm business labor share for all workers, seasonally adjusted index (2017=100)
The Split
Data: U.S. Bureau of Labor Statistics data retrieved via FRED (PRS85006173) Updated Aug 2026

Most affected counties

Counties with the highest labor scores in the County Distress Index.

1 Imperial County CA 100 2 Yuma County AZ 99.9 3 Dawson County NE 99.9 4 Luna County NM 99.9 5 Colusa County CA 99.8 6 Tulare County CA 99.6 7 Merced County CA 99.4 8 Starr County TX 99.4 9 Maverick County TX 99.3 10 Kern County CA 99.2
Explore all 3,144 counties →
Historical data
Quarterly · U.S. Bureau of Labor Statistics data retrieved via FRED (PRS85006173)
Period Value YoY Change
Q2 2026 93.547 -3.176
Q1 2026 94.843 -3.028
Q4 2025 95.727 -1.213
Q3 2025 95.999 -0.658
Q2 2025 96.723 +0.121
Q1 2025 97.871 +0.989
Q4 2024 96.94 +0.716
Q3 2024 96.657 +0.406
Q2 2024 96.602 -0.107
Q1 2024 96.882 +0.327
Q4 2023 96.224 -0.676
Q3 2023 96.251 -1.915

Frequently Asked Questions

What is Nonfarm Business Labor Share Index (2017=100)?

BLS seasonally adjusted labor-share index, 2017=100

Why does Nonfarm Business Labor Share Index (2017=100) matter for financial distress?

Nonfarm Business Labor Share Index (2017=100) is one of the indicators tracked by the American Distress Index (ADI), which measures five dimensions of U.S. household financial distress: Delinquency, Default & Legal, Debt Burden, Labor, and Safety Net & Buffer. Changes in this indicator contribute to the overall distress picture.

Where does the Nonfarm Business Labor Share Index (2017=100) data come from?

This data comes from U.S. Bureau of Labor Statistics data retrieved via FRED (PRS85006173). More information: https://fred.stlouisfed.org/series/PRS85006173. The American Distress Index updates this indicator quarterly.

Ross Kilburn
Written by

Ross Kilburn, Founder

American Default Research · Seattle, Washington
𝕏 @

Two decades working directly with financially distressed American households — from property preservation in 2003, to negotiating over 1,000 short sales during the Great Recession, to foreclosure defense marketing today. Author, The Ark Law Group Complete Guide to Short Sales (Auroch Press, 2013). Twice named to Puget Sound Business Journal Fast 50 for Ark Law Group. B.A., University of California, Berkeley, 1992. Founded American Default Research in 2026 to fill a gap in public data that had been empty since 2013.

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Why does The Split matter?

The Split is one of 98 live indicators tracked by American Default Research. The methodology page explains sources, update cadence, and how the index uses its published inputs.
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