The job losses suffered by the truck transportation sector in February have almost no precedent in the last 10 years, except for the massive drop in April 2020 and a similar drop almost 10 years ago. The Bureau of Labor Statistics (BLS) data showed the truck transportation sector saw a decline of 8,500 jobs in February, coming in at 1,599,900 on a seasonally adjusted basis. Outside of April 2020, the only bigger one-month decline was 9,000 jobs in March 2013. Before the February report, there had only been three months since the pandemic began in which truck transportation jobs declined, with the largest one-month drop coming in March of last year, when jobs declined 3,100 jobs. Other than those three months, it had all been gains. The decline from January was accompanied by a revision in the original figure reported last month for January. The revised January total of 1,608,400 jobs is a downward adjustment of 6,300 jobs from what BLS had initially reported.
That’s all for this week. Enjoy your St. Patrick’s Day, the weekend, and the song of the week, The State of Massachusetts by the Dropkick Murphys.
The post This Week in Logistics News (March 11 – 17) appeared first on Logistics Viewpoints.