The typical worker receives 40% of his or her labour costs after the tax wedge. Total tax collected by Sweden as a percentage of its GDP peaked at 52.3% in 1990. The country faced a real estate and banking crisis in 1990–1991, and consequently passed tax reforms in 1991 to implement tax rate cuts and tax base broadening over time. Since 1990, taxes as a percentage of GDP collected by Sweden have been dropping, with total tax rates for the highest income earners dropping the most. In 2010 45.8% of the country's GDP was collected as taxes, the second highest among OECD countries, and nearly double the percentage in the US or South Korea. Tax income-financed employment represents a third of the Swedish workforce, a substantially higher proportion than in most other countries. Overall, GDP growth has been fast since reforms—especially those in manufacturing—were enacted in the early 1990s.