Trucking Industry Added 4,200 New Jobs in December
The unemployment rate in the US has been rather high due to the recession, but many companies across the country are bouncing back. Now jobs have been opening up, and it’s been reported that 155,000 jobs were added by companies during December alone. This is more than the 152,000 jobs analysts had predicted, bringing the unemployment rate to 7.8%, the lowest since December of 2008. The trucking industry has contributed to this by adding jobs of its own.
Trucking Jobs Added in December
As part of the 155,000 jobs made available in the US overall, the trucking industry contributed 4,200 of these job openings. These jobs were added by for-hire trucking companies. However, figures from the Bureau of Labor Statistics show that 600 jobs were lost in the transportation and warehousing industry overall. The trucking sector is part of this industry, and although thousands of jobs were added, they weren’t enough to offset the job losses.
Jobs Added in November
In the month of November, for-hire trucking companies were offering 2,500 extra payroll jobs. This was good news after the initial job figures for October, when the unemployment rate was 7.9%, were reduced to an additional 1,600 jobs in the trucking sector. For the entire country, 161,000 jobs were added by companies across all industries. This figure has been adjusted up after initial job figures for November were reported to have added 146,000 jobs. With adjustments to earlier reports, 14,000 jobs have been added to the figures for the last 2 months.
Natural Disaster Impact
When Hurricane Sandy blew over the Northeast, it left a trail of destruction that impacted transportation across the region. Although analysts suggest that the hurricane didn’t fundamentally impact national unemployment and employment figures for November, it definitely affected business operations. Transportation was very limited in some states, particularly parts of New York. There was even a restriction on entry into some areas for vehicles carrying only the driver. The mobility of truck drivers was limited as well, preventing goods and fuel from being delivered. Despite this, more jobs were added to the sector.
Trucking Payroll and Overall Employment Figures
The Bureau of Labor Statistics also recorded 1.3584 million payroll jobs in the trucking sector for the month of November. This was an increase of 0.18% compared to October and 3.6% compared to the same month last year. Since March 2010, trucking jobs have increased 10.1%, or by 124,200 jobs; and since the beginning of 2012, the number of trucking jobs has risen 3.1%. However, this is still 6.5% below, or 95,000 jobs short, of the peak for employment in January 2007. These figures reflect all for-hire trucking payroll employment. However, they don’t include private fleet truck drivers and don’t reflect the total number of hired drivers.
The addition of jobs in the trucking sector is very encouraging as it shows that the economy is still recovering from the recession. However, while many companies are hiring, some are still letting workers go. Overall, new jobs in all industries across the US have offset job losses, and the unemployment rate is improving.
Above Image Source: Flickr/Highways Agency
Posted on February 12th, 2013 in Trucking Industry