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Output + Labor Income = ??

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rodriguezm1
I know Labor Income is a component of Value Added. But is it a component of output? Can you add Labor Income to Output? Our client would like to do this to claim "total economic impact" in the region. If you added the two, does this have any feasible meaning? Thoughts on adding these two together? Thanks! - MRod
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    jenny
    Hi Michael, Value-Added is indeed a component of Output and therefore should not be added to Output. Output = Intermediate Purchases + Value-Added Value-Added = Employee Compensation + Proprietor Income + Other Property Income + Indirect Business Taxes Labor Income = Employee Compensation + Proprietor Income These definitions and more can also be found in our on-line glossary (under Support).
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    rodriguezm1
    Got it. Thanks!
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