Hours Worked for Transportation and Warehousing: Transit and Ground Passenger Transportation (NAICS 485) in the United States
IPUIN485L200000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,228.53
Year-over-Year Change
35.26%
Date Range
1/1/1987 - 1/1/2024
Summary
This economic trend measures the monthly production-worker hours in the transit and ground passenger transportation industry, a subset of the broader transportation and warehousing sector. It provides insight into labor utilization and economic activity within this key service industry.
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 Hours Worked for Transportation and Warehousing: Transit and Ground Passenger Transportation (NAICS 485) indicator tracks the volume of labor input for companies involved in scheduled and nonscheduled passenger transportation, including bus, taxi, and limousine services. This data is used by economists to assess the operational capacity and productivity trends in this important service sector.
Methodology
The data is collected through monthly surveys of establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This production-based metric is closely monitored by policymakers and market analysts to gauge the health of the passenger transportation industry and broader economic conditions.
Key Facts
- The passenger transportation industry employs over 2 million workers in the U.S.
- Hours worked peaked in early 2020 before declining due to the COVID-19 pandemic.
- This metric is a leading indicator of consumer demand and economic activity.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the monthly production-worker hours in the transit and ground passenger transportation industry, which includes bus, taxi, and limousine services.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into labor utilization and productivity trends within the passenger transportation sector, which is an important service industry and economic indicator.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This production-based indicator is closely monitored by policymakers and market analysts to gauge the health of the passenger transportation industry and broader economic conditions.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis with a typical 1-2 month lag, and may be subject to revisions.
Related Trends
Output per Worker for Transportation and Warehousing: General Warehousing and Storage (NAICS 493110) in the United States
IPUIN493110W000000000
Employment for Transportation and Warehousing: Transit and Ground Passenger Transportation (NAICS 485) in the United States
IPUIN485W200000000
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IPUIN491L010000000
Hours Worked for Transportation and Warehousing: Scenic and Sightseeing Transportation (NAICS 487) in the United States
IPUIN487L200000000
Real Sectoral Output for Transportation and Warehousing: Specialized Freight (Except Used Goods) Trucking, Local (NAICS 484220) in the United States
IPUIN484220T010000000
Hours Worked for Transportation and Warehousing: Interurban and Rural Bus Transportation (NAICS 4852) in the United States
IPUIN4852L010000000
Citation
U.S. Federal Reserve, Hours Worked for Transportation and Warehousing: Transit and Ground Passenger Transportation (NAICS 485) in the United States (IPUIN485L200000000), retrieved from FRED.