Labor Compensation for Transportation and Warehousing: Warehousing and Storage (NAICS 493) in the United States
IPUIN493L020000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
124,581.83
Year-over-Year Change
246.33%
Date Range
1/1/1992 - 1/1/2024
Summary
This economic trend measures labor compensation in the warehousing and storage industry, a key component of the transportation and logistics sector. It provides insights into wage growth and labor costs for this vital 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: Warehousing and Storage (NAICS 493) in the United States metric tracks the total employee compensation, including wages and benefits, paid by businesses in the warehousing and storage industry. This data helps economists and policymakers assess labor market dynamics and inflationary pressures in this important economic sector.
Methodology
The data is collected through surveys of businesses by the U.S. Bureau of Labor Statistics.
Historical Context
This metric is used by economists, investors, and policymakers to understand cost trends and labor market conditions in the logistics industry.
Key Facts
- Warehousing and storage is a $200 billion industry in the U.S.
- Over 1.2 million people are employed in the warehousing and storage sector.
- Labor costs account for 60-70% of total operating expenses for warehousing firms.
FAQs
Q: What does this economic trend measure?
A: This trend measures total labor compensation, including wages and benefits, paid to employees in the warehousing and storage industry in the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into labor market dynamics and cost pressures in the critical warehousing and logistics sector, which is a key component of the broader supply chain.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Economists, investors, and policymakers use this metric to assess inflationary pressures, labor market conditions, and cost trends in the transportation and logistics industry.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis with a typical 1-2 month delay from the reference period.
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Citation
U.S. Federal Reserve, Labor Compensation for Transportation and Warehousing: Warehousing and Storage (NAICS 493) in the United States (IPUIN493L020000000), retrieved from FRED.