The Weekly Report is back! We’re back to our normal format this week. Check out all the latest numbers and find out how all the winter weather impacted trucking last week. If you’re in a hurry you can get the highlights with our numbers at a glance below. Full the full breakdown of everything we cover you can download our Weekly Trucking Insight PDF below as well.
We provide the Weekly Report in numerous formats every week. Which one is right for you? Watch the latest reports on our Recruiting Resources or YouTube pages, use our Numbers at a Glance section for quick visual references, download the Weekly Report PDF (available below), read the transcript, or listen to the audio version of the February 24, 2021, Weekly Report below.
Numbers At A Glance – February 24, 2021
Truck Driver Searches
|WoW: ∇ Down 1%
|MoM: Δ Up 13%
|YoY: Δ Up 58%
|WoW: Δ Up 14%
|WoW: ∇ Down 26%
|WoW: Δ Up 8¢ per mile
Clicks On Truck Driver Postings
|WoW: Δ Up 7%
|MoM: Δ Up 10%
|YoY: ∇ Down 33%
Load Postings by Segment
|WoW: Dry Van Δ Up 34%
|WoW: Refrigerated Δ Up 37%
|WoW: Flatbed ∇ Down 3%
Truck Posting by Segment
|WoW: Dry Van ∇ Down 33%
|WoW: Refrigerated ∇ Down 22%
|WoW: Flatbed ∇ Down 25%
Spot Rates by Segment
|WoW: Dry Van Δ Up 14¢/ mile
|WoW: Refrigerated Δ Up 28¢
|WoW: Flatbed ≡ Unchanged
Check out the Data for Yourself
Want to go over all of the trucking industry data yourself? No problem! All of the information covered in this week’s report is available for your convenience in PDF form below.
Weekly Report – February 24, 2021 Transcript
Welcome to the latest edition of Randall-Reilly’s Weekly Report, I’m Joshua Miller. We had to take an unexpected break from our normal video format last week due to snow and ice…in Alabama, but we’re all thawed out now, so it’s back to business as usual. Let’s get into this week’s report.
This Week in Job Board Searches and Clicks
Overall last week saw the largest number of clicks on trucking job postings since last August. And while clicks were up search volume dipped slightly. Owner-ops and company driver job postings saw the largest proportional increase in click traffic and click-through rate, while inexperienced/student job postings saw the largest decrease in clicks and the smallest increase in click-through rate.
Truck driver searches were down 1% WoW, up 13% MoM, and up 58% YoY. As far as clicks on truck driver postings – we saw an increase of 7% WoW, 10% MoM, and a decrease of 33% YoY.
With these kinds of changes, it would seem that there is likely an increase of interest from drivers, but there are other factors contributing to these trends.
This Week in Freight
As I mentioned in the open, we were hit with some winter weather and storms last week as were huge swaths of the country. Those winter storms played a role as spot load volume and the imbalance between load postings and truck postings increased drastically.
Total load volume rose around 14% WoW. Load postings for dry van were up 34% WoW, while refrigerated was up 37% WoW, and flatbed dipped 3% WoW. Although flatbed was down it remains close to the all-time high set just three weeks ago.
Truck postings took a nosedive due to the winter storms across the country dropping 26% WoW. The ratio of loads-to-trucks in the Truckstop.com system did, however, shoot up and topped the prior week’s all-time high by more than 50%. Truck postings for all three major haul segments fell. Dry van was down 32% WoW, refrigerated was down 22% WoW, and flatbed dipped by 25% WoW.
During all this winter chaos spot rates rose by 8 cents per mile. That represents a 37% increase as compared to the same week in 2020. Dry van rates were up 14¢ WoW, refrigerated rose 28¢ WoW, and there was no change for flatbed.
Story of the Week
What week would be complete without mentioning COVID-19? Vaccinations are here and carriers are doing their best to distribute them effectively. Thus far vaccination deliveries have been tasked to a small handful of carriers. And although there has not been a significant effect on capacity so far, that could possibly change as we approach “peak vaccine season”.
With the special climate requirements for both the Pfizer and Moderna variations, the coordination and delivery of vaccines must be much more precise than any typical reefer load. At this time, it does not look like any new carriers will be tapped to help distribute vaccines, and that means as more and more vaccine shipments are tasked to a relatively small and select group of carriers, more opportunities could begin to open up for other fleets. Vaccination distribution will take precedent over all other shipments. That means if any loads are deprioritized or dropped in order to facilitate vaccine distribution, other fleets will have new opportunities to step in and fill the void – even if it ends up being for only a short time.
That does it for this week’s report. For a quick reference for any and everything we talked about today you can refer to the numbers at a glance section over at the randallreilly.com blog. There you can also find a full PDF available for download that covers our entire report. Join us next week when we take another look back to help you move forward. Have a great week everybody.