RFX Blog

Trucking Industry Continues to Grow with an 8.2% Increase and 2,000 New Jobs

July 10th, 2012

The Department of Labor’s monthly report for the month of June has been released, and the good news is that the trucking industry is continuing to grow. According to the newly released report, the national unemployment rate for the United States held steady at 8.2%. The trucking industry, meanwhile, enjoyed some improvement with the addition of 2,000 new jobs, which signals a continued improvement in this important industry.

Gains in the Transportation Sector

While the overall rate of job growth in the United States failed to grow at the rate economists had predicted, the transportation industry did enjoy some significant growth, giving people hope for a bright future in that sector. As a whole, the transportation sector added 25,300 jobs in the month of June. 2,000 of those jobs came from the subset of the trucking industry. The numbers were released on July 6th by the Department of Labor’s Bureau of Statistics. This is good news for those seeking signs of economic growth, as the trucking industry is one of the key areas which economists look to predict overall financial growth. A healthy trucking industry often signals a rising level of economic prosperity.

Other Industries Grow, but Slower than Predicted

National economists had predicted that employers across all industries, including the transportation industry, would add 100,000 jobs in the month of June. In actuality, employers added 69,000 jobs to non-farm payrolls, which is down from 77,000 in May. Overall private sector employment grew by only 84,000 jobs, marking the lowest total in 10 months. However, several key areas enjoyed better than predicted growth. Many of these industries are tied to the trucking sector. Manufacturing jobs, for example, grew by 11,000, which significantly exceeded the predicted increase of 7,000. Meanwhile, the nation saw 2,000 new construction jobs created in the month of June.

What the Numbers Mean

The numbers gathered by the Department of Labor are obtained through multiple surveys. The job growth numbers come from a survey of employers, while the unemployment rate comes from a survey of households in America. While overall job growth in America did not meet the predictions of economists, the increase in trucking jobs can be read as a possible sign of better things to come. With more manufacturing and construction materials needing to be shipped, trucking can expect to continue to see job growth in 2012. The natural hope for those still facing unemployment is that the boom in trucking will eventually translate into a major increase in other sectors as well.

The increase in trucking jobs in the United States has obviously been met with celebration in the trucking industry, but might signal good things ahead for other job sectors as well. The Bureau of Labor and Statistics predicts further growth in trucking through the year 2014. With more freight being shipped across the country, more business will soon be able to share in the trucking industry’s good fortune, hopefully reversing the trend of sluggish economic growth in America.

Posted on July 10th, 2012 in Trucking Industry