One wonders how many of these truckers have lost their rigs and jobs due to 'immigration.' .. I don't believe that there is less trucking. Amazon, Walmart et al, deliver everything!! Even though Amazon delivers from a local hub, someone had to truck it into the hub station.

Lynda

Mac Slavo
September 10th, 2019

The federal government’s jobs report has confirmed that truckers are losing their jobs by the thousands. According to preliminary payroll numbers reported by the Bureau of Labor Statistics last week, around 4,500 trucking jobs were eliminated in the month of August alone.

The worst part is that we can expect that number to get worse in the coming months. According to Business Insider, this is the first time the agency reported a slash in trucking payrolls since March, when 1,200 truckers lost their jobs. That’s also the biggest drop since April of 2018 when approximately 5,500 trucking jobs were lost.

Indicators from the trucking industry have been sour in 2019. In the first half of the year, around 640 trucking companies went bankrupt, according to industry data from Broughton Capital LLC. That’s more than triple the number of bankruptcies from the same period last year — about 175. –Business Insider

One trucking company’s profits plunged recently adding more fuel to the recession fires. USA Truck reported $2.5 million in net income in the second quarter of 2018. In Q2 2019, it reported $1,000 in profit, according to a separate report from Business Insider. The trucking industry is indeed going through a “bloodbath.”

Trucking is often looked at as a leading indicator of where the rest of the economy is headed. As 71% of America’s freight is moved on trucks, companies foreseeing needing fewer trucks or fewer drivers is typically an omen of an economic downturn: If manufacturers are producing less, and people are buying less, there’s less of a need to move goods. –Business Insider

Author: Mac Slavo

Views: Read by 1,687 people
Date: September 10th, 2019
Website: www.SHTFplan.com

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