Labor Compensation for Transportation and Warehousing: Truck Transportation (NAICS 484) in the United States
IPUIN484L021000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-1.10
Year-over-Year Change
-114.29%
Date Range
1/1/1993 - 1/1/2024
Summary
This economic trend measures labor compensation for the truck transportation industry in the United States. It provides insights into the labor costs and wage pressures within this crucial 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 Labor Compensation for Transportation and Warehousing: Truck Transportation (NAICS 484) index tracks changes in total labor costs, including wages and benefits, for companies involved in the truck transportation industry. This metric is used by economists and policymakers to monitor employment trends and inflationary pressures in this key component of the logistics and supply chain.
Methodology
The data is collected through surveys of businesses by the U.S. Bureau of Labor Statistics.
Historical Context
Trends in truck transportation labor costs are closely watched as they can influence inflation, consumer prices, and the overall health of the economy.
Key Facts
- The index is published monthly by the U.S. Federal Reserve.
- Truck transportation is a major component of the U.S. logistics industry.
- Labor costs account for a significant portion of total operating expenses for trucking companies.
FAQs
Q: What does this economic trend measure?
A: This trend measures changes in total labor compensation, including wages and benefits, for companies in the truck transportation industry (NAICS 484) in the United States.
Q: Why is this trend relevant for users or analysts?
A: Trends in truck transportation labor costs provide insights into employment and inflationary pressures within this crucial logistics sector, which has significant implications for the broader economy.
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 and economists monitor this metric to assess employment trends and potential inflationary pressures in the transportation and logistics industries, which can inform monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The data is published monthly by the U.S. Federal Reserve, with a typical release lag of several weeks.
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Citation
U.S. Federal Reserve, Labor Compensation for Transportation and Warehousing: Truck Transportation (NAICS 484) in the United States (IPUIN484L021000000), retrieved from FRED.