The downward trend is anticipated to continue through 2024.
The Bureau of Labor Statistics reported that freight transportation employment posted its fifth loss of the year last October, leading to a decline of more than 30,000 jobs from its peak. It is estimated that the sector will continue to move towards an annual decline.
In October of this year, the most recent decrease was reported with a loss of 5,000 jobs, a smaller figure compared to the falls observed in July and August, after the disappearance of Yellow Corp, which brought with it a loss of more than 30,000 jobs. . This marks the fifth job decline in the freight transportation sector this year. Since the start of the pandemic, they had only been reduced twice before: in April 2021 with less than 12,900 jobs and in November 2022 with approximately 37,100.
It is relevant to mention that labor costs decreased in the truck cargo transportation sector. Hourly earnings for all employees fell to $30.49 in September, representing a decrease of 19 cents per hour, according to data recorded in the Bureau of Labor Statistics report.
![](https://www.sgibinc.com/wp-content/uploads/2023/08/Diseno-sin-titulo-14-768x768.png)
Economists caution that the unadjusted numbers should not be overlooked. According to a report by David Spencer, vice president of market intelligence at Arrive Logistics, these numbers indicate that some transportation companies dedicated to supporting peak seasons may have fallen back this year compared to previous years.
He also noted that he anticipates the downward trend will continue until 2024, as large numbers of drivers entered the industry when it was at a high point in the market, and that balance must be restored in the freight sector.
![The story of the first car race in Paris: a historic hit in 1894](https://www.sgibinc.com/wp-content/uploads/2024/07/1-27-300x284.png)
The story of the first car race in Paris: a historic hit in 1894
Paris stands not only as a cultural and artistic epicenter but also as a pioneer in car racing In the history of automotive racing, Paris
![En la imagen se muestra una carretera de Estados Unidos](https://www.sgibinc.com/wp-content/uploads/2024/07/1-26-300x284.png)
Top states for driving in the United States in 2024
A WalletHub study compared all 50 states to determine the best driving conditions Road safety and quality are central concerns for drivers. And while the
![En la imagen se muestra un vehículo eléctrico](https://www.sgibinc.com/wp-content/uploads/2024/07/2-25-300x284.png)
Briefs: marijuana reclassification, vehicle fees, and climate grants
The trucking industry goes through new legislation, taxes and subsidies Questions about the proposed reclassification of marijuana The Owner-Operator Independent Drivers Association (OOIDA) supports the
![En la imagen se muestra la contaminación del tráfico](https://www.sgibinc.com/wp-content/uploads/2024/07/2-24-300x284.png)
Impact of traffic pollution: study reveals increase in blood pressure
A study from the University of Washington in Seattle reveals that the main cause of significant increases in blood pressure might be traffic-related gasses A
![En la imagen se muestra un conductor de camión](https://www.sgibinc.com/wp-content/uploads/2024/07/3-13-300x284.png)
The benefits and careers of a Commercial Driver’s License
Having a CDL opens multiple doors within the trucking and transportation industry Having a Commercial Driver’s License (CDL) opens multiple doors within the trucking industry,
![En la imagen se muestra un camión con vehículos en la carretera](https://www.sgibinc.com/wp-content/uploads/2024/07/2-22-300x284.png)
Sharing the road with a truck: steps to ensure your safety
Caution around blind spots and anticipating truck maneuvers are essential to ensuring everyone’s safety Truck drivers face significant challenges on the road due to their