diff --git a/Cargo.lock b/Cargo.lock
index d50677bf67806..c77819699ab9a 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -5969,11 +5969,12 @@ dependencies = [
 
 [[package]]
 name = "tracing-core"
-version = "0.1.21"
+version = "0.1.26"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "1f4ed65637b8390770814083d20756f87bfa2c21bf2f110babdc5438351746e4"
+checksum = "f54c8ca710e81886d498c2fd3331b56c93aa248d49de2222ad2742247c60072f"
 dependencies = [
  "lazy_static",
+ "valuable",
 ]
 
 [[package]]
@@ -5999,9 +6000,9 @@ dependencies = [
 
 [[package]]
 name = "tracing-subscriber"
-version = "0.3.7"
+version = "0.3.11"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "5312f325fe3588e277415f5a6cca1f4ccad0f248c4cd5a4bd33032d7286abc22"
+checksum = "4bc28f93baff38037f64e6f43d34cfa1605f27a49c34e8a04c5e78b0babf2596"
 dependencies = [
  "ansi_term",
  "lazy_static",
@@ -6148,6 +6149,12 @@ dependencies = [
  "serde",
 ]
 
+[[package]]
+name = "valuable"
+version = "0.1.0"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "830b7e5d4d90034032940e4ace0d9a9a057e7a45cd94e6c007832e39edb82f6d"
+
 [[package]]
 name = "vcpkg"
 version = "0.2.8"
diff --git a/src/dataflowd/Cargo.toml b/src/dataflowd/Cargo.toml
index 1e31b585fcdf2..ce667ecaca35c 100644
--- a/src/dataflowd/Cargo.toml
+++ b/src/dataflowd/Cargo.toml
@@ -19,7 +19,7 @@ mz-dataflow = { path = "../dataflow" }
 tracing = "0.1.29"
 mz-ore = { path = "../ore" }
 timely = { git = "https://github.com/TimelyDataflow/timely-dataflow", default-features = false, features = ["bincode"] }
-tracing-subscriber = "0.3.7"
+tracing-subscriber = "0.3.11"
 tokio = { version = "1.16.1", features = ["macros", "rt-multi-thread"] }
 tokio-serde = { version = "0.8.0", features = ["bincode"] }
 tokio-util = { version = "0.6.9", features = ["codec"] }
diff --git a/src/materialized/Cargo.toml b/src/materialized/Cargo.toml
index 75e090ad9f9c1..e2f332e049cdc 100644
--- a/src/materialized/Cargo.toml
+++ b/src/materialized/Cargo.toml
@@ -84,7 +84,7 @@ tokio = { version = "1.16.1", features = ["sync"] }
 tokio-openssl = "0.6.3"
 tokio-stream = { version = "0.1.8", features = ["net"] }
 tracing = "0.1.29"
-tracing-subscriber = "0.3.7"
+tracing-subscriber = "0.3.11"
 url = "2.2.2"
 uuid = "0.8.2"
 
diff --git a/src/ore/Cargo.toml b/src/ore/Cargo.toml
index 5a35d26b6a08b..93f7d290f6376 100644
--- a/src/ore/Cargo.toml
+++ b/src/ore/Cargo.toml
@@ -48,7 +48,7 @@ tokio-openssl = { version = "0.6.3", optional = true }
 # log lines we care about.
 # Note that this feature is distinct from `tracing`'s `log` feature, which has `tracing` macros emit `log` records if
 # there is no global `tracing` subscriber.
-tracing-subscriber = { version = "0.3.7", default-features = false, features = ["env-filter", "fmt", "tracing-log"], optional = true }
+tracing-subscriber = { version = "0.3.11", default-features = false, features = ["env-filter", "fmt", "tracing-log"], optional = true }
 
 [dev-dependencies]
 crossbeam-utils = "0.8.7"
diff --git a/src/s3-datagen/Cargo.toml b/src/s3-datagen/Cargo.toml
index 3e293e7d8c6df..2559f11e7d3c9 100644
--- a/src/s3-datagen/Cargo.toml
+++ b/src/s3-datagen/Cargo.toml
@@ -17,4 +17,4 @@ mz-aws-util = { path = "../aws-util", features = ["s3"] }
 mz-ore = { path = "../ore" }
 tokio = { version = "1.16.1", features = ["macros", "net", "rt", "time"] }
 tracing = "0.1.29"
-tracing-subscriber = { version = "0.3.7", default-features = false, features = ["env-filter", "fmt"] }
+tracing-subscriber = { version = "0.3.11", default-features = false, features = ["env-filter", "fmt"] }