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Trucking makes hiring gains on strong demand
For-hire trucking carriers added 26,000 jobs in June. Additionally, carriers added 25,800 jobs in May. In the past three months, trucking companies have added a record 62,400 workers to their payrolls. Trucking companies added 31,400 jobs in the same period last year. Trucking employment is now nearly 5% above the pre-pandemic levels of 2019.
In May, the job opening rate for transportation, warehousing, and utilities was 6.9%. For comparison, the peak rate was 5.4% in 2019. The job gains and openings point to higher demand for truck freight. This is despite the softening spot market.
Wholesale trade sales rose 0.5% in May on a seasonally adjusted basis. Wholesaler sales were up 20.9% year over year.
For-hire truck tonnage rose 4.7% in May from April. It increased 0.5% after seasonal adjustment. Thus, truck tonnage hit its second-highest level since the pandemic began.
U.S. retailers urge ports to prepare for strong H2 imports
U.S. retailers project continued strong imports through November. However, volumes during the summer-fall peak shipping season are forecasted to be down slightly from the record cargo that moved through the country’s ports last year.
In 2021, U.S. imports increased 17.4% over the previous annual record in 2020. Imports in July are projected to increase 5.3% year over year. Last month’s forecast was for an increase of 4.8% in July.
August imports are forecasted to be down 0.5% from last August. Additionally, September is now forecasted to decline 0.8% from September 2021. October imports are forecasted to be down 4.1%, versus the drop of 3.8% forecasted previously.
About O’Neill Logistics
O’Neill Logistics is a leading 3PL with operations in Rancho Cucamonga, CA; Savannah, GA; and Newark/Monroe, NJ. We service many verticals including Garments, Fashion Accessories, Footwear, Furniture, Home Goods, & Electronics. Additionally, we offer omni-channel distribution and all value-added services. Lastly, we focus on retail “drop shipment” fulfillment and item-level fulfillment services with same-day service offerings.
O’Neill Logistics has over 2 million square feet of state-of-the-art facilities. Additionally, we offer dray services to support the warehouses and provide distribution to retailers and wholesalers. Our reliable 3PL platform combines sophisticated technology with robust, flexible processing designs and speed-to-market gateway models.
Lastly, we aim to simplify your supply chain. We deliver exceptional service and can optimize your operational performance. Therefore, we aim to build, protect and foster strong business partnerships.
As a logistician or shipper, you need to remain up-to-date on logistics news. You need a trusted source for your weekly news. Subscribe now to receive trending logistics news every week! Additionally, share the newsletter with your colleagues and friends!
