09.11.2009
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| Transport Employment Figures Remain Unsteady
Transport Employment Figures Remain Unsteady Rail, trucking, warehouse jobs all show mixed signals for recent months Quote:
If a recovery is truly under way in the freight sector, it is yet to translate into a steady upturn in the number of transportation jobs.
Labor Department figures for trucking, warehousing and rail transportation jobs show no clear employment trend in recent months. Instead, the figures show a wobbly pattern of a bounce off the worst levels one month, often with a decline a month later.
While economic indicators are often mixed when the economy is bottoming out, and employment is a lagging indicator as firms wait to make sure of demand before hiring more workers, the jobs data show the transport sector is not past that waiting stage.
Labor collects raw data from employers, and later adjusts it for normal seasonal ups and downs. Many economists say last fall’s economic collapse was so severe as to distort seasonal adjustment formulas. The unadjusted figures, however, show actual job levels.
The biggest sector is trucking, where employment in the past decade peaked in September 2006 at 1.465 million workers. After that, as a freight recession set in, trucking jobs shrank consistently to reach a low this past April of 1.266 million. That was followed by gains in both May and June, a drop in July and a mild boost last month to 1.284 million.
more here>> Transport Employment Figures Remain Unsteady
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