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 – Required truck driver overtime pay could be on the horizon.
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|WOW: ▼ Down 8¢ per Mile|
|Spot Rates by Segment|
|WoW: Dry Van ▼ Down 8¢ per Mile|
|WoW: Refrigerated ▼ Down 12¢ per Mile|
|WoW: Flatbed ▼ Down 7¢ per Mile|
|Load Posting Volume|
|WOW: ▲ Up 17%|
|Load Volume by Segment|
|WoW: Dry Van ▲ Up 22%|
|WoW: Refrigerated ▲ Up 13%|
|WoW: Flatbed ▲ Up 17%|
|WOW: ▲ Up 13%|
|Truck Driver Searches|
|WOW: ▼ Down 17%|
|MoM: ▼ Down 12%|
|YoY: ▼ Down 46%|
|Clicks on Truck Driver Postings|
|WOW: ▼ Down 12%|
|MoM: ▼ Down 17%|
|YoY: ▲ Up 11%|
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 21, 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. Welcome to another edition of the Weekly Report. For Randall Reilly, I’m Joshua Miller. Don’t forget to like, share, and subscribe to make sure you never miss a new report or any of our other great driver recruiting content. Now let’s dive into this week’s report.
A lot of red this week. Searches were down 17% WoW, 12% MoM, and 46% YoY. Clicks on truck driver posts also declined by 12% WoW and 17% MoM, but the YoY totals increased 11%.
With drops in both searches and clicks last week it would appear that drivers have a low interest in finding new trucking jobs. We’ll keep an eye on it moving forward to see if that is indeed the case or if these totals are just a one-off occurrence.
Total load postings shot up 17% WoW and all three major segments increased. Dry van postings increased by 22%, refrigerated was up 13%, and flatbed totals were up 17% WoW.
The overall increases seem to line up with what we’d expect coming off the Labor Day holiday week. That sharp increase for dry van, however, is higher than what we typically see, which could be due at least in some part to the rail labor issues we spoke about in last week’s story of the week.
Load postings also rose sharply in all regions across the country.
Truck availability increased by 13% as the overall load-to-truck ratio increased to its strongest level in seven weeks.
Overall spot rates fell by 8¢ per mile, WoW and the rates for each segment saw declines. Dry van rates dipped 8¢, refrigerated fell by 12¢, and the spot rate for flatbeds declined by 7¢ per mile WoW.
A new bill taking aim at truckers’ overtime exemption has been introduced in the Senate. A group of Senators has introduced a bill that would require overtime pay for truck drivers. This new senate bill is companion legislation to a bill already introduced in the House this past April.
The bills would remove the motor carrier provision from the Fair Labor Standards Act, which in its current form excludes many commercial truck operators from overtime protections.
The bill’s authors argue that the simplest way to recruit and retain drivers moving forward during an ongoing driver shortage is increasing pay. Eliminating the overtime exemption currently in place would be the simplest way to accomplish that goal. The legislation has the support of the International Brotherhood of Teamsters and the Owner-Operator Independent Drivers Association, as well as several other groups.
That does it for this week’s report. We hope the information has been useful and informative to you. As always, a downloadable PDF with all the information covered is available for your convenience in the description on YouTube or in the main body of the page on our Randall Reilly site. Come on back and see us next week when we’ll take another look back to help you move forward. Until then, have a great week everybody.