Labor Compensation for Transportation and Warehousing: Used Household and Office Goods Moving (NAICS 48421) in the United States
IPUIN48421L020000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5,676.90
Year-over-Year Change
44.35%
Date Range
1/1/1987 - 1/1/2024
Summary
The Labor Compensation for Transportation and Warehousing: Used Household and Office Goods Moving (NAICS 48421) in the United States measures compensation paid to workers in the household and office goods moving industry. This metric is important for economists and policymakers to understand labor costs and productivity in the transportation and logistics sectors.
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 total labor compensation, including wages and benefits, for employees in the NAICS 48421 industry, which covers businesses that primarily transport used household, institutional, or commercial furniture and equipment. It provides insight into employment and wage trends in this specialized transportation niche.
Methodology
The data is collected by the U.S. Bureau of Labor Statistics through surveys of businesses in the transportation and warehousing sector.
Historical Context
This labor compensation metric is utilized by economists, market analysts, and policymakers to assess the economic health and competitiveness of the household and office goods moving industry.
Key Facts
- This industry employed over 126,000 workers in the U.S. as of 2021.
- Average hourly labor compensation was $29.24 in Q4 2022.
- Labor costs account for over 50% of total operating expenses in this sector.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total labor compensation, including wages and benefits, for employees in the household and office goods moving industry (NAICS 48421) in the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into employment, wage, and productivity trends in the specialized transportation and logistics sector responsible for moving used household and office goods.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Labor Statistics through surveys of businesses in the transportation and warehousing sector.
Q: How is this trend used in economic policy?
A: Economists, market analysts, and policymakers utilize this labor compensation metric to assess the economic health and competitiveness of the household and office goods moving industry.
Q: Are there update delays or limitations?
A: There may be a lag of several months between the reference period and the release of the latest data.
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IPUIN4842W200000000
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IPUIN484230W001000000
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IPUIN484230T300000000
Citation
U.S. Federal Reserve, Labor Compensation for Transportation and Warehousing: Used Household and Office Goods Moving (NAICS 48421) in the United States (IPUIN48421L020000000), retrieved from FRED.