Labor Productivity for Transportation and Warehousing: General Freight Trucking (NAICS 4841) in the United States
IPUIN4841L000000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
103.68
Year-over-Year Change
18.42%
Date Range
1/1/1992 - 1/1/2024
Summary
This economic indicator measures labor productivity in the general freight trucking industry, a key component of the transportation and warehousing sector. It provides insights into the efficiency and competitiveness of a critical logistics industry.
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
The labor productivity index tracks changes in the ratio of real output to total hours worked in the general freight trucking industry, which is classified under NAICS code 4841. This metric is used by economists and policymakers to evaluate industry-level productivity trends and their implications for costs, competitiveness, and potential inflationary pressures.
Methodology
The data is collected and calculated by the U.S. Bureau of Labor Statistics as part of its industry productivity program.
Historical Context
Trends in trucking productivity are closely monitored for their impact on logistics costs, supply chain efficiency, and broader macroeconomic conditions.
Key Facts
- The general freight trucking industry accounts for over 70% of total U.S. freight ton-miles.
- Labor productivity in this sector grew by an average of 2.3% annually from 2000 to 2020.
- Improvements in trucking productivity can help offset rising fuel and labor costs.
FAQs
Q: What does this economic trend measure?
A: This economic indicator measures labor productivity in the general freight trucking industry, which is a key component of the broader transportation and warehousing sector.
Q: Why is this trend relevant for users or analysts?
A: Trends in trucking productivity are closely monitored by economists and policymakers as they provide insights into industry-level efficiency, competitiveness, and potential inflationary pressures.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Labor Statistics as part of its industry productivity program.
Q: How is this trend used in economic policy?
A: Productivity trends in the freight trucking industry are used to assess logistics costs, supply chain efficiency, and broader macroeconomic conditions.
Q: Are there update delays or limitations?
A: The data is subject to the typical update schedule and potential revisions of the Bureau of Labor Statistics' industry productivity program.
Related Trends
Sectoral Output Price Deflator for Transportation and Warehousing: General Freight Trucking (NAICS 4841) in the United States
IPUIN4841T050000000
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Contribution of Capital Intensity to Labor Productivity for Transportation and Warehousing: Line-Haul Railroads (NAICS 482111) in the United States
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Labor Compensation for Transportation and Warehousing: Warehousing and Storage (NAICS 4931) in the United States
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Citation
U.S. Federal Reserve, Labor Productivity for Transportation and Warehousing: General Freight Trucking (NAICS 4841) in the United States (IPUIN4841L000000000), retrieved from FRED.