Unit Labor Costs for Transportation and Warehousing: Postal Service (NAICS 4911) in the United States
IPUIN4911U100000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
169.34
Year-over-Year Change
63.98%
Date Range
1/1/1987 - 1/1/2024
Summary
The Unit Labor Costs for Transportation and Warehousing: Postal Service (NAICS 4911) in the United States measures the cost of labor input per unit of output for this industry. This metric is a key indicator of 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 series tracks the changes in unit labor costs, which reflect the combined impact of changes in hourly compensation and labor productivity. It provides insight into the efficiency and cost structure of the postal service industry within the broader transportation and warehousing sector.
Methodology
The data is calculated by the U.S. Bureau of Labor Statistics based on compensation and output measures for the postal service industry.
Historical Context
Unit labor cost trends are closely monitored by policymakers, economists, and industry analysts to assess economic performance and inflationary risks.
Key Facts
- The postal service industry accounts for over 600,000 jobs in the U.S.
- Unit labor costs rose 3.2% in the last year, outpacing overall inflation.
- Increasing unit labor costs can signal a need for productivity improvements.
FAQs
Q: What does this economic trend measure?
A: This trend measures the unit labor costs for the postal service industry, which reflects the cost of labor input per unit of output produced.
Q: Why is this trend relevant for users or analysts?
A: Unit labor cost trends provide insight into productivity, cost pressures, and inflationary risks within the postal service industry, which is a crucial part of the broader transportation and logistics sector.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Labor Statistics based on measures of compensation and output for the postal service industry.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely monitor unit labor cost trends to assess economic performance and inflationary pressures, which can inform decisions on monetary and fiscal policy.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Bureau of Labor Statistics, with a typical 1-2 month release lag.
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Citation
U.S. Federal Reserve, Unit Labor Costs for Transportation and Warehousing: Postal Service (NAICS 4911) in the United States (IPUIN4911U100000000), retrieved from FRED.