Hourly Compensation for Transportation and Warehousing: Specialized Freight (Except Used Goods) Trucking, Local (NAICS 484220) in the United States
IPUIN484220U121000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.10
Year-over-Year Change
-96.55%
Date Range
1/1/2003 - 1/1/2024
Summary
This economic trend measures hourly compensation for specialized freight (except used goods) trucking, local in the United States, providing insights into labor costs and productivity for this 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
The Hourly Compensation for Transportation and Warehousing: Specialized Freight (Except Used Goods) Trucking, Local (NAICS 484220) in the United States series tracks inflation-adjusted labor costs for this specialized trucking industry, offering a window into workforce dynamics and operational expenses.
Methodology
The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Historical Context
This metric is closely watched by policymakers, logistics firms, and transportation analysts to assess industry health and cost pressures.
Key Facts
- Trucking accounts for over 80% of freight transportation in the U.S.
- Specialized freight trucking revenue exceeds $250 billion annually.
- Labor costs make up around 40% of total operating expenses for trucking firms.
FAQs
Q: What does this economic trend measure?
A: This trend measures hourly compensation, including wages and benefits, for specialized freight (except used goods) trucking, local operations in the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into labor market dynamics and cost pressures for a critical transportation sector, informing business planning, economic analysis, and policy decisions.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and transportation analysts closely monitor this metric to assess industry health, productivity, and inflationary pressures that may impact the broader economy.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately one month.
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Citation
U.S. Federal Reserve, Hourly Compensation for Transportation and Warehousing: Specialized Freight (Except Used Goods) Trucking, Local (NAICS 484220) in the United States (IPUIN484220U121000000), retrieved from FRED.