Labor Compensation for Transportation and Warehousing: General Warehousing and Storage (NAICS 493110) in the United States
IPUIN493110L020000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
113,622.89
Year-over-Year Change
281.04%
Date Range
1/1/1992 - 1/1/2024
Summary
This economic trend measures labor compensation in the general warehousing and storage industry within the transportation and warehousing sector in the United States. It provides insights into wage pressures and labor market dynamics in this key part of the supply chain.
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: General Warehousing and Storage (NAICS 493110) trend tracks wage and salary data for workers in the warehousing and storage industry. It is a key indicator of employment costs and labor market conditions in this essential logistics sector.
Methodology
The data is collected through surveys of businesses by the U.S. Bureau of Labor Statistics.
Historical Context
This metric is closely watched by policymakers, economists, and industry analysts to assess the economic health and inflationary pressures in the logistics and supply chain industries.
Key Facts
- This metric dates back to 1990.
- Warehousing and storage accounts for over 1 million U.S. jobs.
- Labor costs make up a significant portion of total operating expenses for logistics firms.
FAQs
Q: What does this economic trend measure?
A: This trend measures labor compensation, including wages and salaries, for workers in the general warehousing and storage industry (NAICS 493110) within the broader transportation and warehousing sector in the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into labor market conditions and cost pressures in a critical part of the supply chain, making it relevant for policymakers, economists, and industry analysts.
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 central banks closely monitor this metric to assess inflationary pressures and the overall health of the logistics and supply chain industries.
Q: Are there update delays or limitations?
A: There may be lags in data reporting and updates, as the information is collected through surveys of businesses.
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Citation
U.S. Federal Reserve, Labor Compensation for Transportation and Warehousing: General Warehousing and Storage (NAICS 493110) in the United States (IPUIN493110L020000000), retrieved from FRED.