Biggest trucking job loss on record

BUSINESS INSIDER

  • Trucking companies slashed 88,300 drivers jobs in April.
  • It’s the biggest single-month loss of trucking jobs on record, according to data extending back to January 1990.
  • It shows the trucking “bloodbath” of 2019 is living on — and getting much, much worse.

April wiped out all trucking employments gained during the past five years and a half years, bringing the industry back to its employment numbers in November 2014. 

……

While truck drivers have been deemed “essential” workers during the coronavirus pandemic, freight volumes and rates have collapsed this year. 

Much of the economy, most notably manufacturing, is at a standstill. As a result, trucks aren’t moving. Nearly three-quarters of all freight by weight is moved by truck in the US, so if goods aren’t being purchased or moved, truck drivers are out of work. 

Because of the coronavirus shutdowns, the trucking industry is on the cusp of a “freight cliff,” according to a Federal Emergency Management Agency report obtained by Politico. The rate of moving goods via truck has fallen to the lowest levels seen since 2009, Cass Information Systems said last month.

READ MORE AT BUSINESS INSIDER

Buy on Amazon!

Advertisements