Trucking Looses 800 Jobs In August

Alaska76 · Sep 8, 2014

Pahrump said: ↑

this article I was in Transport Topics

I suggest that drivers read news about trucking everywhere,,read the same stuff big wigs that own fleets,,never hurts to learn what your boss learns

below is a recent article;

Trucking lost 800 jobs in August as the economy added 142,000 jobs and the unemployment rate declined to 6.1%, the Labor Department reported.
The job increase was below economists forecasts of a rise of 230,000, Bloomberg News reported. The rise in payrolls was weaker than the lowest estimate in the Bloomberg survey.
The unemployment rate declined from 6.2% in July, and the rise in jobs followed a revised 212,000 gain in July, according to the Labor Department.
The transportation and warehousing sector, which includes trucking, added 1,200 positions in August.
In the coming quarters, we should see some slowing in payrolls gains, Michael Feroli, chief U.S. economist at JPMorgan Chase & Co., told Bloomberg. There still are some areas where wed like to see further improvement in the labor market, such as the number of long-term employed and the pace of wage growth, he said.

Manufacturing was flat after an increase of 28,000 in July. Construction companies added 20,000 workers after a 31,000 rise the prior month.
The number of long-term unemployed, those out of work for 27 weeks or more, totaled 2.96 million, the fewest since 2.7 million in January 2009, Bloomberg reported.
The so-called participation rate, which indicates the share of working-age people in the labor force, decreased to 62.8%, matching the lowest since 1978, from 62.9% a month before, according to Bloomberg
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Say what...? Or is someone trying to say that transportation and warehousing, which includes trucking, netted 400 jobs after the loss of 800 trucking positions? Someone flip a coin, please.

Eckoh · Sep 11, 2014

STexan said: ↑

I find these "employment numbers" mostly meaningless anymore what with the way they don't emphasize the REAL story behind them, plus they get "adjusted" a week later to something else without anyone noticing.

All you need to know is there are a hell of a lot of working age, healthy people not working, yet the sidewalks are not overran with homeless, starving people. So, someone is picking up the slack. That someone is government via welfare programs. So long as this continues, the economy will appear to be improving and everything will be sunshine and lollipops.

If 1/4 of the people who could work work were to suddenly take a job, inflation would suddenly skyrocket well past double-digit numbers. So we're danged if we do work and danged if we don't work the way the system is currently rigged.
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funny yet sad thing is the government could raise wages and lower inflation by lowering fuel/gas prices. The largest expense for trucking is fuel, lower that and the cost of freight goes down causing a snowball effect. Prices lower cause the goods cost the companies less, which means people can buy more meaning more people needed to sell the goods and wages can increase without raising the cost of goods. However that will never happen because the government is not smart enough to see a simple solution and the oil barons are not happy only making a few billion per year.

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