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Where it sits: lower than ~100% of its last decade — near the bottom of its record — trending series sit near their own extreme most days; the state reads distance from typical, not rank.

The full history

How it is read

What it measures

workers' slice of what corporations produce

Where it sits

lower than ~100% of its last decade — near the bottom of its record — trending series sit near their own extreme most days; the state reads distance from typical, not rank — at the 0th percentile of its last decade.

z vs. its window

-1.65 (strain side: down). 39 observations in the window.

State rule

z < 1 CALM · 1 ≤ z < 2 WATCH · z ≥ 2 EXTREME, measured only toward the declared strain side.

Confidence

ROBUST — a primary official series, mechanically reported.

Reliability (DRS)

DRS 95 — Computed: 100 × compensation of employees / gross value added of corporate business (BEA NIPA Table 1.14, both via FRED). The standard labor-share-of-corporate-output construction — compensation carries no depreciation component, so net compensation over gross value added is the convention, not a units mismatch. Quarterly since 1947. NIPA series: revised through three monthly estimates, annual updates, and ~5-year benchmark revisions — readings can move a few tenths. The functional-distribution partner to S14; the wealth cut lives at S6-S12. Trend-dominated; decade-relative, disclosed.

Where it comes from

DERIVED ↗ Every number on this site is reproducible from this primary source.

What it read at past stress points

Lehman, Sep 2008	60.40	· CALM
Q4-2018 selloff	57.42	· CALM
Curve inversion, Aug 2019	57.37	· CALM
COVID crash, Mar 2020	58.84	· CALM

Questions it helps answer

• Who Gets What — Where does the wealth sit — and who keeps the output?