Unit Labor Costs for Transportation and Warehousing: General Freight Trucking (NAICS 4841) in the United States
IPUIN4841U101000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-3.40
Year-over-Year Change
-164.15%
Date Range
1/1/1993 - 1/1/2024
Summary
This economic trend measures unit labor costs in the general freight trucking industry, providing insights into productivity and labor-related costs in a key transportation 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
Unit labor costs represent the average cost of labor per unit of output, serving as an important indicator of industry efficiency and inflationary pressures. Tracking this metric in the trucking industry helps economists and policymakers assess transportation industry dynamics.
Methodology
The data is collected through employer surveys and calculated as the ratio of hourly compensation to labor productivity.
Historical Context
Trends in unit labor costs can inform policy decisions and market analysis related to the transportation and logistics sectors.
Key Facts
- Unit labor costs measure the average cost of labor per unit of output.
- The trucking industry is a key component of the broader transportation and logistics sector.
- Tracking unit labor costs provides insights into industry efficiency and inflationary pressures.
FAQs
Q: What does this economic trend measure?
A: This trend measures unit labor costs in the general freight trucking industry, providing insights into productivity and labor-related costs in a key transportation sector.
Q: Why is this trend relevant for users or analysts?
A: Trends in unit labor costs can inform policy decisions and market analysis related to the transportation and logistics sectors, as they reflect industry efficiency and inflationary pressures.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys and calculated as the ratio of hourly compensation to labor productivity.
Q: How is this trend used in economic policy?
A: Policymakers and economists can use this trend to assess transportation industry dynamics and inform decisions related to the broader transportation and logistics sectors.
Q: Are there update delays or limitations?
A: The data is subject to the typical update schedule and limitations of the employer survey process.
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Citation
U.S. Federal Reserve, Unit Labor Costs for Transportation and Warehousing: General Freight Trucking (NAICS 4841) in the United States (IPUIN4841U101000000), retrieved from FRED.