Labor Compensation for Transportation and Warehousing: General Freight Trucking (NAICS 4841) in the United States
IPUIN4841U110000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
131.85
Year-over-Year Change
63.08%
Date Range
1/1/1992 - 1/1/2024
Summary
This economic trend measures labor compensation for the general freight trucking industry in the United States. It provides insights into the costs and financial health of a critical 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
The labor compensation series for NAICS 4841 (General Freight Trucking) offers a view into wage and benefit trends for workers in the trucking industry. This metric is used by economists and policymakers to assess labor market conditions and inflationary pressures in the transportation and logistics sectors.
Methodology
The data is collected through surveys of businesses and establishments by the U.S. Bureau of Labor Statistics.
Historical Context
Trends in trucking labor costs can inform economic policy decisions and analysis of the transportation industry.
Key Facts
- General freight trucking is a $300 billion industry in the U.S.
- Trucking employs over 1.9 million workers in the United States.
- Labor costs account for over half of total operating expenses for trucking firms.
FAQs
Q: What does this economic trend measure?
A: This trend measures labor compensation, including wages and benefits, for workers in the general freight trucking industry (NAICS 4841) in the United States.
Q: Why is this trend relevant for users or analysts?
A: Trends in trucking labor costs provide insights into the financial health and cost pressures facing a critical logistics sector. This information is valuable for economic analysis and policymaking.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses and establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Tracking labor compensation in the trucking industry can inform decisions around economic policy, regulation, and investment in the transportation sector.
Q: Are there update delays or limitations?
A: The data is subject to the typical release schedule and potential revisions of U.S. government economic statistics.
Related Trends
Sectoral Output for Transportation and Warehousing: Warehousing and Storage (NAICS 4931) in the United States
IPUIN4931T300000000
Sectoral Output for Transportation and Warehousing: Air Transportation (NAICS 481) in the United States
IPUIN481T300000000
Sectoral Output Price Deflator for Transportation and Warehousing: General Freight Trucking, Local (NAICS 484110) in the United States
IPUIN484110T050000000
Output per Worker for Transportation and Warehousing: Postal Service (NAICS 4911) in the United States
IPUIN4911W001000000
Employment for Transportation and Warehousing: Couriers and Express Delivery Services (NAICS 4921) in the United States
IPUIN4921W200000000
Employment for Transportation and Warehousing: Transit and Ground Passenger Transportation (NAICS 485) in the United States
IPUIN485W200000000
Citation
U.S. Federal Reserve, Labor Compensation for Transportation and Warehousing: General Freight Trucking (NAICS 4841) in the United States (IPUIN4841U110000000), retrieved from FRED.