Unit Labor Costs for Transportation and Warehousing: Specialized Freight Trucking (NAICS 4842) in the United States
IPUIN4842U100000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
125.42
Year-over-Year Change
27.98%
Date Range
1/1/2002 - 1/1/2024
Summary
The Unit Labor Costs for Transportation and Warehousing: Specialized Freight Trucking (NAICS 4842) in the United States measures the labor costs per unit of output in the specialized freight trucking industry. This metric is a key indicator of productivity and cost pressures in this important economic 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
This series tracks the changes in unit labor costs, which represent the average cost of labor per unit of output produced. It provides insights into the efficiency and competitiveness of the specialized freight trucking industry, which is a crucial component of the broader transportation and logistics ecosystem.
Methodology
The data is collected and calculated by the U.S. Bureau of Labor Statistics based on input-output models and labor market information.
Historical Context
Policymakers and industry analysts closely monitor this trend to assess the overall health and competitiveness of the transportation and logistics sector.
Key Facts
- The series is indexed to 100 in the base year 2012.
- Unit labor costs increased by 7.3% in 2021 compared to the previous year.
- Specialized freight trucking is a $300 billion industry in the United States.
FAQs
Q: What does this economic trend measure?
A: This trend measures the unit labor costs in the specialized freight trucking industry (NAICS 4842) in the United States. It tracks the average cost of labor per unit of output produced.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the productivity and cost pressures faced by the specialized freight trucking industry, which is a crucial component of the broader transportation and logistics sector.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Labor Statistics based on input-output models and labor market information.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts closely monitor this trend to assess the overall health and competitiveness of the transportation and logistics sector, which is essential for the broader economy.
Q: Are there update delays or limitations?
A: The data is published on a quarterly basis, and there may be slight delays in the release of the most recent figures.
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Citation
U.S. Federal Reserve, Unit Labor Costs for Transportation and Warehousing: Specialized Freight Trucking (NAICS 4842) in the United States (IPUIN4842U100000000), retrieved from FRED.