Labor Compensation for Transportation and Warehousing: General Freight Trucking, Local (NAICS 484110) in the United States
IPUIN484110U110000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
138.96
Year-over-Year Change
73.75%
Date Range
1/1/1992 - 1/1/2024
Summary
The Labor Compensation for Transportation and Warehousing: General Freight Trucking, Local (NAICS 484110) trend measures wage and benefit costs for the local trucking industry in the United States. This metric is closely watched by economists and policymakers to gauge the health of the logistics sector.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This index tracks the total compensation, including wages and benefits, paid to workers in the local general freight trucking industry in the U.S. It provides insight into labor costs and productivity in this critical transportation segment, which is a key indicator of broader economic conditions.
Methodology
The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
Trends in labor compensation for the trucking industry are used by government agencies, industry analysts, and policymakers to inform economic and infrastructure decision-making.
Key Facts
- The trucking industry employs over 3.5 million workers in the U.S.
- Labor costs account for over 60% of total operating expenses for trucking companies.
- Trucking is a leading indicator of broader economic activity.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total compensation, including wages and benefits, paid to workers in the local general freight trucking industry in the United States.
Q: Why is this trend relevant for users or analysts?
A: Trends in labor compensation for the trucking industry provide insight into labor costs and productivity, which are key indicators of broader economic conditions.
Q: How is this data collected or calculated?
A: The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Trends in labor compensation for the trucking industry are used by government agencies, industry analysts, and policymakers to inform economic and infrastructure decision-making.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis with a typical release lag of 1-2 months.
Related Trends
Labor Productivity for Transportation and Warehousing: General Freight Trucking, Local (NAICS 484110) in the United States
IPUIN484110L000000000
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IPUIN481W000000000
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Citation
U.S. Federal Reserve, Labor Compensation for Transportation and Warehousing: General Freight Trucking, Local (NAICS 484110) in the United States (IPUIN484110U110000000), retrieved from FRED.