Labor Compensation for Transportation and Warehousing: Refrigerated Warehousing and Storage (NAICS 493120) in the United States
IPUIN493120U110000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
160.26
Year-over-Year Change
99.33%
Date Range
1/1/1992 - 1/1/2024
Summary
This economic trend measures labor compensation for the refrigerated warehousing and storage industry in the United States. It provides insight into the cost of labor in this critical logistics sector.
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: Refrigerated Warehousing and Storage (NAICS 493120) series tracks the total compensation paid to workers in this specialized warehouse and distribution industry. It is an important indicator of economic activity and labor market conditions in this segment of the transportation and logistics sector.
Methodology
The data is collected by the U.S. Bureau of Labor Statistics through employer surveys.
Historical Context
This metric is used by economists, policymakers, and industry analysts to understand trends in labor costs and productivity in the refrigerated warehousing market.
Key Facts
- Refrigerated warehousing is a $30 billion industry in the U.S.
- The industry employs over 200,000 workers.
- Labor costs account for 50-60% of total operating expenses.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total labor compensation, including wages and benefits, paid to workers in the refrigerated warehousing and storage industry in the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into labor costs and productivity in a critical logistics sector, which is important for understanding overall economic conditions and labor market trends.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Labor Statistics through employer surveys.
Q: How is this trend used in economic policy?
A: Economists, policymakers, and industry analysts use this metric to monitor labor market conditions and productivity in the refrigerated warehousing and logistics sector, which has implications for consumer prices, supply chain management, and overall economic activity.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis with a lag of approximately two months.
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Citation
U.S. Federal Reserve, Labor Compensation for Transportation and Warehousing: Refrigerated Warehousing and Storage (NAICS 493120) in the United States (IPUIN493120U110000000), retrieved from FRED.