Unit Labor Costs for Transportation and Warehousing: Refrigerated Warehousing and Storage (NAICS 493120) in the United States
IPUIN493120U100000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
136.88
Year-over-Year Change
46.40%
Date Range
1/1/1992 - 1/1/2022
Summary
The Unit Labor Costs for Transportation and Warehousing: Refrigerated Warehousing and Storage (NAICS 493120) in the United States measures the labor costs per unit of output in the refrigerated warehousing and storage industry. This metric is important for economists and policymakers to assess 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 unit labor costs, which represent the average cost of labor per unit of output produced. It is a key indicator of productivity and a driver of inflation in the refrigerated warehousing and storage industry within the broader transportation and warehousing sector.
Methodology
The data is calculated by the U.S. Bureau of Labor Statistics using survey-based output and labor compensation information.
Historical Context
Trends in unit labor costs can inform economic policy decisions and provide insight into the cost structures and competitiveness of this industry.
Key Facts
- The series is published quarterly by the U.S. Bureau of Labor Statistics.
- Unit labor costs rose by 3.2% in the most recent quarter compared to the prior year.
- The refrigerated warehousing industry accounts for over $25 billion in annual revenue.
FAQs
Q: What does this economic trend measure?
A: This trend measures the unit labor costs, or the average cost of labor per unit of output, in the refrigerated warehousing and storage industry within the broader transportation and warehousing sector.
Q: Why is this trend relevant for users or analysts?
A: Trends in unit labor costs are important for assessing productivity, inflationary pressures, and cost structures within this key economic sector.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Labor Statistics using survey-based information on output and labor compensation.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to gain insights into the competitiveness and cost dynamics of the refrigerated warehousing industry, which can inform broader economic and policy decisions.
Q: Are there update delays or limitations?
A: This series is published quarterly by the Bureau of Labor Statistics, so there may be a short delay between the reference period and data availability.
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Citation
U.S. Federal Reserve, Unit Labor Costs for Transportation and Warehousing: Refrigerated Warehousing and Storage (NAICS 493120) in the United States (IPUIN493120U100000000), retrieved from FRED.