The Weekly Report brings you updated data on recruiting metrics including click, search, and spot rates, plus a new story of the week. This week’s story – A possible railroad strike could spell disaster for the weakened supply chain.
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|WOW: ▼ Down 1¢ per Mile|
|Spot Rates by Segment|
|WoW: Dry Van ■ Flat|
|WoW: Refrigerated ▲ Up 1¢ per Mile|
|WoW: Flatbed ■ Flat|
|Load Posting Volume|
|WOW: ▼ Down 17%|
|Load Volume by Segment|
|WoW: Dry Van ▼ Down 12%|
|WoW: Refrigerated ▼ Down 12%|
|WoW: Flatbed ▼ Down 23%|
|WOW: ▼ Down 15%|
|Truck Driver Searches|
|WOW: ▼ Down 2%|
|MoM: ▲ Up 11%|
|YoY: ▼ Down 37%|
|Clicks on Truck Driver Postings|
|WOW: ▲ Up 8%|
|MoM: ▼ Down 9%|
|YoY: ▲ Up 17%|
Would you like to have your own copy of the trucking industry data? All of the information covered in this week’s report for September 14, 2022, is available for your convenience in PDF form below. Click the image to view and download your copy of the Weekly Trucking Insight.
Hello everyone and welcome to the Weekly Report. For Randall Reilly, I’m Joshua Miller. If you like our reports don’t forget to like, share, and subscribe to our YouTube channel so you never miss any of our new content.
Speaking of content, let’s get to this week’s report!
Searches were down 2% WoW, up 11% MoM, and down 37% YoY. For clicks, there was an 8% increase WoW, a 9% MoM decline, and a 17% increase YoY.
Total load postings were down by 17% WoW. While that is a big dip, somewhere in that range is typical of what we normally see during Labor Day holiday weeks.
Dry van and refrigerated load volume each dipped by 12% WoW as flatbed volumes declined by 23% WoW. And as you may expect with all those drops, load postings were down in all regions.
Truck availability fell by 15% as the load-to-truck ratio eased lower.
Overall spot rates dipped by 1¢ per mile WoW. This rate is once again a full 26% lower than the same week in 2021.
Dry van rates remained flat, refrigerated rates increased by 1¢ per mile, and flatbed rates remained flat WoW.
As a potential railroad strike is looming, the ATA is sounding the alarm. Should a railroad strike take place, the ATA is warning that the necessary trucking capacity to offset effects simply does not exist.
More than 460,000 additional long-haul trucks would be needed every day to offset the loss of long-distance freight train operations in the United States. The ATA argues that the increased demand will be impossible to reach due to the current equipment availability and ongoing driver shortage.
If the strike occurs and trucking is indeed unable to fill the void, the weakened supply chain could face dire consequences leading to an increase in the inflationary effects already being felt across the country. The Association of American Railroads projects lost economic output due to a national rail shutdown at more than $2 BILLION per DAY.
The ATA has called on Congress to intervene and help resolve the ongoing labor negotiations in the freight rail industry if the parties are unable to reach a mutual agreement. The ATA has also strongly cautioned against merely extending the negotiation timeline, as that could serve to only delay a possible strike or lockout into the upcoming holiday season when the supply chain will already be under heightened stress.
That does it for this week’s report. We hope the information has been useful and informative to you. If you’d like your own copy of everything, we covered today you can access and download a free PDF version of our report in the description of our YouTube page or in the main body of the page if you’re watching us over on our Randall Reilly site.
We’ll be back next week with all the latest updates on searches, clicks, rates, and of course another new story of the week. Until then, have a great week everybody.