A truck driver shares his strategies for coping with rising prices.
According to payroll data from the U.S. Department of Labor released on Friday, the number of trucking jobs decreased in September, highlighting the ongoing trucker shortage.
The truck transportation industry had around 1,580,800 employees in September, a drop from 1,592,200 in August, based on seasonally adjusted data from the Labor Department. This represents a monthly decrease of 11,400 jobs in the sector.
A trucker transporting a container at the Maersk APM Terminals at the Port of Los Angeles. (AP Photo/Damian Dovarganes / AP Newsroom)
Bob Costello, the chief economist for the American Trucking Associations, tweeted, “DOL reported today that for-hire trucking lost 11,400 jobs in September. Outside of April 2020, this is the largest decline since April 2009.” He suggested that the smaller fleets might be struggling or adjusting, while indicating that this could help alleviate fears of overcapacity, a view he doesn’t share.
The Labor Department noted that employment in transportation and warehousing was “little changed” in September, resulting in a loss of about 7,900 jobs. However, this decline in trucking jobs was “partially offset” by a gain of 3,000 jobs in air transportation, as per the data.
Overall, U.S. employers added 263,000 jobs in September, indicating a second consecutive month of slowed job growth, with the unemployment rate dropping to 3.5%, according to the Labor Department.
The decline in trucking jobs was “partially offset” by job growth in air transportation adding 3,000 positions in September, according to the Labor Department’s recent data. (iStock)
The recent job losses in the trucking sector occur alongside a persistent truck driver shortage that predates the pandemic. In early September, American Trucking Associations President and CEO Chris Spear pointed out in a letter that there is currently a “shortage” of 80,000 drivers.
FOX Business has reached out to the American Trucking Associations for their comments on this matter.
