The trucking industry gained 3,300 jobs in the month of June while other related industries also showed significant growth, according to the monthly employment report released by the Department of Labor’s Bureau of Labor Statistics. For-hire trucking now has over 1.4 million payroll jobs, up 180,000 from March 2010, the low point in the recent recession. The steady increase in jobs over the past few months suggests that the trucking industry continues to bounce back along with the rest of the economy since the market crisis in late 2008. The US economy as a whole added 288,000 non-farm jobs in the month of May and the unemployment is currently down to 6.1, the lowest it has been since the market crash.
Along with the trucking industry, other related businesses continue to show impressive growth according to the data published by Department of Labor. The total number of transportation and warehouse jobs increased by 16,600 in the month of June. Similarly, employment in construction grew by 6,000 jobs, manufacturing grew by 16,000 jobs, and mining and logging added another 6,000.
With all these related industries growing, it seems a bright time for the trucking businesses across the US. This June was the first moth since the recession hit in 2008 to show such impressive growth in the transportation industry. As manufacturing grows, so does the trucking industry.
Trucking rates have also been boosted in recent months, with a record high $2.63 per mile average being set this June, according to data from Internet Truckstop. Though rates are usually stagnant, remaining between $1.90 and $2.14 from February 2011 and March 2014, recent months have shown a sharp increase. With new capacity regulations in place, trucking rates of have been steadily on the rise since May. Even with the regulatory challenges to the industry, trucking seems to be stronger than ever.
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