Hourly Compensation for Transportation and Warehousing: Specialized Freight (Except Used Goods) Trucking, Long-Distance (NAICS 484230) in the United States
IPUIN484230U121000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2.50
Year-over-Year Change
-67.95%
Date Range
1/1/2003 - 1/1/2024
Summary
This economic trend measures hourly compensation for specialized freight (except used goods) trucking, long-distance in the U.S. It is an important indicator of labor costs and productivity in the transportation and 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 Hourly Compensation for Transportation and Warehousing: Specialized Freight (Except Used Goods) Trucking, Long-Distance (NAICS 484230) trend tracks the average hourly pay, benefits, and other labor costs for workers in this key industry. It provides insights into labor market dynamics and cost pressures affecting the broader logistics and supply chain.
Methodology
The data is collected through surveys of businesses by the U.S. Bureau of Labor Statistics.
Historical Context
This metric is closely watched by policymakers, economists, and industry analysts to assess economic conditions and inflationary pressures.
Key Facts
- Hourly compensation includes wages, salaries, and benefits.
- Long-distance trucking is a critical logistics function.
- This industry employs over 600,000 workers in the U.S.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly compensation, including wages, salaries, and benefits, for workers in the specialized freight (except used goods) trucking, long-distance industry (NAICS 484230) in the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into labor costs and productivity in a critical transportation and logistics sector, which is important for assessing economic conditions, inflationary pressures, and industry competitiveness.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and industry analysts closely monitor this metric to gauge labor market dynamics and cost pressures affecting the broader transportation and logistics sector.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis, but there may be lags in reporting due to the survey collection process.
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Citation
U.S. Federal Reserve, Hourly Compensation for Transportation and Warehousing: Specialized Freight (Except Used Goods) Trucking, Long-Distance (NAICS 484230) (IPUIN484230U121000000), retrieved from FRED.