Unit Labor Costs for Transportation and Warehousing: General Freight Trucking, Long-Distance (NAICS 48412) in the United States
IPUIN48412U101000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-4.50
Year-over-Year Change
-172.58%
Date Range
1/1/1988 - 1/1/2024
Summary
The Unit Labor Costs for Transportation and Warehousing: General Freight Trucking, Long-Distance (NAICS 48412) in the United States measures the labor costs per unit of output in the long-distance freight trucking industry. This metric is a key indicator of productivity and inflationary pressures in 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 series tracks the change in total labor costs, including wages and benefits, relative to the volume of goods transported by long-distance freight trucking companies. It provides insights into cost drivers and labor efficiency within a crucial component of the U.S. supply chain and transportation infrastructure.
Methodology
The data is collected and calculated by the U.S. Bureau of Labor Statistics based on surveys of trucking industry employers.
Historical Context
Unit labor costs are closely monitored by policymakers, economists, and transportation analysts to assess the competitiveness and inflationary risks in the freight logistics market.
Key Facts
- Long-distance freight trucking accounts for over 60% of total U.S. freight transport volume.
- Unit labor costs in the trucking industry have risen by 25% since 2015.
- Productivity growth in freight trucking has lagged behind the broader U.S. economy.
FAQs
Q: What does this economic trend measure?
A: This trend measures the unit labor costs, or total labor costs per unit of output, in the long-distance freight trucking industry (NAICS 48412) in the United States.
Q: Why is this trend relevant for users or analysts?
A: Unit labor costs in freight trucking are a key indicator of productivity, cost pressures, and inflationary risks within a critical component of the U.S. logistics and supply chain infrastructure.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Labor Statistics based on surveys of trucking industry employers.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and transportation analysts monitor unit labor costs in freight trucking to assess the competitiveness and inflationary pressures in the logistics market, which has broader implications for the overall economy.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately two months, so it may not reflect the most recent economic conditions.
Related Trends
Output per Worker for Transportation and Warehousing: Specialized Freight Trucking (NAICS 4842) in the United States
IPUIN4842W001000000
Labor Share for Transportation and Warehousing: Line-Haul Railroads (NAICS 482111) in the United States
IPUIN482111L030000000
Real Sectoral Output for Transportation and Warehousing: Refrigerated Warehousing and Storage (NAICS 493120) in the United States
IPUIN493120T011000000
Labor Productivity for Transportation and Warehousing: Postal Service (NAICS 49111) in the United States
IPUIN49111L000000000
Hours Worked for Transportation and Warehousing: Inland Water Transportation (NAICS 4832) in the United States
IPUIN4832L200000000
Labor Compensation for Transportation and Warehousing: General Freight Trucking, Local (NAICS 484110) in the United States
IPUIN484110U110000000
Citation
U.S. Federal Reserve, Unit Labor Costs for Transportation and Warehousing: General Freight Trucking, Long-Distance (NAICS 48412) in the United States (IPUIN48412U101000000), retrieved from FRED.