U.S. labor share of income fell to 52.8%, lowest since 1947
Original title: U.S. workers took home their smallest share of capital since at least 1947
Second-quarter 2026 labor share was 52.8%, down from 53.6%, with economists split on the cause.
Bureau of Labor Statistics data show U.S. workers' share of economic output fell to 52.8% in the second quarter of 2026, the lowest since records began in 1947, from 53.6% the prior quarter. This decade's average was about 55.6%. Economists cite slower hiring and capital's rising share, while automation and immigration explanations remain disputed.
Unconfirmed: Economists disagree whether AI, cyclical productivity, or immigration policy explains the decline.
- Employers added 584,000 jobs in 2025, versus 2 million in 2024.
- Unemployment was 4.2% in September; the U.S. added 29,000 jobs that month.
- Goldman Sachs estimated AI could displace 25% of work hours, not yet seen in data.
- NFAP reports a 1.1 million to 1.4 million drop in the foreign-born workforce since January 2025.
- Countries
- United States
From the original article
6 min read at fortune.com
As corporate earnings soar and U. S. GDP balloons, the American workforce isn’t feeling the same boom.
By qlte · fortune.com
A short excerpt; the article and its images belong to the publisher. Summary, key facts and assessment above are AI-written from the article and can be wrong.