Unit Labor Costs for Transportation and Warehousing: Truck Transportation (NAICS 484) in the United States
IPUIN484U101000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-2.50
Year-over-Year Change
-164.10%
Date Range
1/1/1993 - 1/1/2024
Summary
The Unit Labor Costs for Transportation and Warehousing: Truck Transportation (NAICS 484) in the United States measures the cost of labor per unit of output in the truck transportation industry. This metric is important for economists and policymakers to understand industry productivity and inflationary pressures.
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 data series represents the unit labor costs, which are the total labor costs per unit of real output, for the truck transportation industry in the United States. It provides insight into the efficiency and cost structure of this key logistics sector.
Methodology
The data is calculated by the U.S. Bureau of Labor Statistics using production and labor cost data.
Historical Context
This metric is closely watched by policymakers and market analysts to assess the competitiveness and inflationary dynamics of the transportation and logistics industry.
Key Facts
- The truck transportation industry is a critical component of the U.S. logistics infrastructure.
- Unit labor costs reflect both wages and worker productivity.
- Rising unit labor costs can signal inflationary pressures in the transportation sector.
FAQs
Q: What does this economic trend measure?
A: This trend measures the unit labor costs, or total labor costs per unit of real output, for the truck transportation industry in the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the efficiency and cost structure of the key transportation and logistics sector, which is closely watched by policymakers and market analysts.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Labor Statistics using production and labor cost data.
Q: How is this trend used in economic policy?
A: This metric is used by policymakers and analysts to assess the competitiveness and inflationary dynamics of the transportation and logistics industry.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Federal Reserve with some lag from the reference period.
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Citation
U.S. Federal Reserve, Unit Labor Costs for Transportation and Warehousing: Truck Transportation (NAICS 484) in the United States (IPUIN484U101000000), retrieved from FRED.