In a year marked by economic fluctuations and shifting labor market dynamics, one sector stands out for its resilience: transportation and warehousing. According to the recent revisions by the Bureau of Labor Statistics (BLS), this sector added more jobs than initially estimated, standing out in a landscape where the broader U.S. economy saw significant downward adjustments in employment figures. This latest development highlights the importance of logistics jobs and the… Continue reading
The third-party logistics (3PL) and warehousing industry, once a booming sector fueled by the rapid growth of e-commerce, is now facing a pronounced downturn, with 2023 and 2024 becoming a few years to forget for 3PLs. In a year marked by economic uncertainty, industry players grapple with declining sales, a drop in new business leads, and intensifying competition. The ripple effects of these challenges are being felt across the sector,… Continue reading
How much truck company owners depends on whether they’re owner-operators or investors and the nature of their operations. Owner-operators typically take home an average of $6,343 weekly, according to data from ZipRecruiter. Investors or fleet owners who own trucks but don’t drive them can expect a $500 to $2,000 per truck profit each week. Several elements influence the profitability of truck company owners, including the mileage driven, the type of… Continue reading
News of truck company closures continues to stress a freight industry still struggling to recover from the COVID-19 pandemic. It would seem no trucking company is too big to fail in the current economy, with not even giants such as Yellow Corporation spared. With nearly 73% of the nation’s freight moved by trucks, businesses that rely on trucks for freight handling have expressed concern. Trucks deliver essential goods to every… Continue reading
The logistics and transportation industries are on the cusp of a technological revolution, with autonomous trucks poised to reshape supply chains and freight movement across the globe. As artificial and robotics systems advance, self-driving trucks will transition from a futuristic concept to an everyday reality on our roadways. This shift promises to dramatically alter the economics, safety, and efficiency of road freight transport. Major technology companies and traditional truck manufacturers… Continue reading
The U.S. freight industry serves as a vital artery in the nation’s supply chain. Trucks move roughly 73% of the nation’s freight by weight, according to data from the U.S. Bureau of Transportation Statistics. Truck drivers have faced mounting challenges since 2020. First, it was a global supply chain disruption during the height of COVID. Then, they were hit with dropping freight rates amid rising inflation and an increase in… Continue reading
Batten down the hatches and hold on to your cargo tight. The increase in cargo thefts that spiked during 2023 shows no signs of reversing in 2024. During Q1 of 2024, CargoNet documented a staggering 925 incidents of cargo theft, marking a 46% increase over the same period in 2023. Reported thefts increased in most states, according to CargoNet’s first quarter supply chain risk trends analysis. However, California experienced the… Continue reading
Owner-operator Gamina Oliver has worked in the trucking industry since 1994. She drove trucks for other carriers early in her career and even worked as a dispatcher for a bit. A few years ago, she decided to take her knowledge of both sides of the business and begin operations on her own. She invested in a small fleet of three trucks and a reliable crew of drivers. Everything was going… Continue reading
The increase in popularity of online shopping has caused a surge in demand for road transportation services to move products between manufacturers, warehouses, fulfillment centers, and consumers. However, a shortage of qualified truck drivers in the U.S. poses a significant challenge that can hinder market growth. According to the North American Road Freight Transportation Market Forecast for 2024-2028, the average age of truck drivers in the U.S. today is 46,… Continue reading
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