The AAR Labor Rate currently, as of 10/2022, is at $149.34, up $0.07 (or 0.047%) from the previous quarter. However, with the finalization of the new labor union contracts among the railroads and the 12 craft unions the labor rates will increase substantially over the next 4 quarters of 2023. As of this writing the exact increase to the labor rate is unknow but will be significant. We anticipate an increase of anywhere from 20-25% starting in January 2023 spread out over the next 4 quarters of 2023. We wanted to inform you of these adjustments as soon as possible for your convenience and for your 2023 budgeting.

 

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