In this paper we present new results on the enumeration of parking functions and labeled forests. We introduce new statistics on parking functions, which are then extended to labeled forests via bijective correspondences. We determine the joint distribution of two statistics on parking functions and their counterparts on labeled forests. Our results on labeled forests also serve to explain the mysterious equidistribution between two seemingly unrelated statistics in parking functions recently identified by Stanley and Yin and give an explicit bijection between the two statistics. Extensions of our techniques are discussed, including joint distribution on further refinement of these new statistics.