Unit Labor Costs for Transportation and Warehousing: Warehousing and Storage (NAICS 4931) in the United States
IPUIN4931U101000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
9.00
Year-over-Year Change
-742.86%
Date Range
1/1/1993 - 1/1/2024
Summary
The Unit Labor Costs for Transportation and Warehousing: Warehousing and Storage (NAICS 4931) in the United States measures the cost of labor per unit of output in the warehousing and storage sector. This metric is a key indicator of productivity and inflationary pressures in the logistics 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
This data series tracks the unit labor costs, which reflect the average cost of labor required to produce one unit of output. It provides insight into the productivity and cost dynamics of the warehousing and storage industry, a critical component of the broader supply chain and logistics network.
Methodology
The data is calculated by the U.S. Bureau of Labor Statistics based on measures of output and total labor compensation.
Historical Context
Policymakers and analysts monitor this metric to assess the competitiveness and inflationary risks within the warehousing and logistics sector.
Key Facts
- The data series dates back to 2007.
- Warehousing and storage accounts for over 1 million U.S. jobs.
- Unit labor costs reflect both wages and worker productivity.
FAQs
Q: What does this economic trend measure?
A: This data series measures the unit labor costs in the warehousing and storage industry, providing insights into productivity and cost dynamics within this critical logistics sector.
Q: Why is this trend relevant for users or analysts?
A: This metric is relevant for policymakers, economists, and industry analysts as it offers a window into the competitiveness and inflationary pressures in the warehousing and logistics supply chain.
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 output and total labor compensation in the warehousing and storage industry.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this unit labor cost metric to assess the productivity and cost dynamics within the logistics industry, which has important implications for broader economic and inflation trends.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Federal Reserve, with a typical release lag of several weeks after the end of each quarter.
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IPUIN49311L000000000
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Citation
U.S. Federal Reserve, Unit Labor Costs for Transportation and Warehousing: Warehousing and Storage (NAICS 4931) in the United States (IPUIN4931U101000000), retrieved from FRED.