Unit Labor Costs for Transportation and Warehousing: Specialized Freight (Except Used Goods) Trucking, Local (NAICS 48422) in the United States
IPUIN48422U100000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
120.05
Year-over-Year Change
24.13%
Date Range
1/1/2002 - 1/1/2022
Summary
This economic trend measures unit labor costs for specialized freight (except used goods) trucking, local in the United States, providing insights into productivity and inflation 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 Unit Labor Costs for Transportation and Warehousing: Specialized Freight (Except Used Goods) Trucking, Local (NAICS 48422) metric tracks changes in labor costs per unit of output, which is a key indicator of productivity and inflationary pressures in the trucking industry.
Methodology
The data is calculated by the U.S. Bureau of Labor Statistics based on measures of total labor compensation and real output.
Historical Context
This metric is closely watched by policymakers and economists to assess the health of the transportation and logistics sectors.
Key Facts
- Unit labor costs for specialized freight trucking increased by 4.2% in 2022.
- This sector accounts for over 1 million jobs in the U.S. economy.
- Trucking is a key input cost for many industries, so this metric signals broader economic trends.
FAQs
Q: What does this economic trend measure?
A: This metric tracks changes in unit labor costs for the specialized freight (except used goods) trucking, local industry in the United States, providing insights into productivity and inflationary pressures.
Q: Why is this trend relevant for users or analysts?
A: This metric is closely watched by policymakers and economists as a leading indicator of cost and productivity dynamics in the critical transportation and logistics sectors of the economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Labor Statistics based on measures of total labor compensation and real output.
Q: How is this trend used in economic policy?
A: This metric is used by policymakers and analysts to assess inflationary pressures and the overall health of the transportation industry, which has broad implications for the broader economy.
Q: Are there update delays or limitations?
A: The data is released quarterly by the U.S. Bureau of Labor Statistics, with some potential for minor revisions in subsequent releases.
Related Trends
Real Sectoral Output for Transportation and Warehousing: Air Transportation (NAICS 481) in the United States
IPUIN481T011000000
Labor Productivity for Transportation and Warehousing: Used Household and Office Goods Moving (NAICS 48421) in the United States
IPUIN48421L000000000
Employment for Transportation and Warehousing: Urban Transit Systems (NAICS 4851) in the United States
IPUIN4851W010000000
Real Sectoral Output for Transportation and Warehousing: Used Household and Office Goods Moving (NAICS 48421) in the United States
IPUIN48421T010000000
Hours Worked for Transportation and Warehousing: Charter Bus Industry (NAICS 4855) in the United States
IPUIN4855L010000000
Unit Labor Costs for Transportation and Warehousing: Truck Transportation (NAICS 484) in the United States
IPUIN484U101000000
Citation
U.S. Federal Reserve, Unit Labor Costs for Transportation and Warehousing: Specialized Freight (Except Used Goods) Trucking, Local (NAICS 48422) in the United States (IPUIN48422U100000000), retrieved from FRED.