Freight Research | Page 2 of 3 | Convoy

Trucking industry jobs have proven more resilient than other sectors of the economy as the COVID-19 pandemic has reshaped the American economy — a trend confirmed by new employment data published by the Bureau of Labor Statistics (BLS) this morning — but beneath the headline numbers, the past few months have accelerated a generational demographic […]

The BLS’ monthly Employment Situation report includes a measure of employment in Truck Transportation businesses. However, because of the definition that BLS uses, that number excludes about half of the individuals who work as truck drivers.  The difference between the Truck Transportation employment number reported by BLS and a more obvious accounting is driven by […]

Truck driver employment edged ever so slightly higher by 0.8% (30,000 drivers) in May driven entirely by gains in private fleet employment, according to Convoy estimates based on data released in this morning’s Employment Situation Report from the Bureau of Labor Statistics (BLS). Convoy estimates that private fleet employment increased by 2%, while employment among […]

For many U.S. households and businesses, April forced us to think hard about what’s truly “essential”. Factory output and retail sales data reported this morning by the Federal Reserve Board and Census Bureau provide a quantitative window onto those priorities.  It comes as no surprise that April was a brutal month for the U.S. economy […]

It has been two months since President Trump declared the national state of emergency. As states begin to reopen, questions linger around what recovery means for the freight industry. In Convoy’s mid-year market outlook for 2020, we share our latest analysis on freight rates and supply chain trends, covering the following questions: How will reopening […]

A version of this analysis originally appeared in trucks.com. During previous recessions and regional downturns, trucking recruited workers laid off from other industries. That built freight supply just at the moment when aggregate demand was typically soft. Consider what happened during two recent downturns.[1] From the start of the Great Recession in December 2007 to […]

As truckers transport essential supplies across our nation, Goodyear is providing roadside services and access to equipment to support America’s truckers.  Blake Winterton, Senior Manager of Commercial Services at Goodyear, joins Convoy for our latest video covering how COVID-19 is impacting the freight industry. Winterton is responsible for Goodyear’s FleetHQ Service Center, a program that helps […]

The United States federal government has taken unprecedented steps to support the American economy in the face of the disruption caused by the COVID-19 pandemic. Support to individuals and households will go a long way to sustaining consumer spending, which in turn will maintain freight demand. But policymakers have gone well beyond direct support to […]

With 75% of US residents self-isolating due to COVID-19, businesses across a range of industries are being forced to adapt their supply chains. Delivery companies are increasing capacity to meet unprecedented demand. Traditional businesses are shifting to delivery models to service their at-home customers. Consumers are changing how they receive and handle packages to reduce […]

Even before the COVID-19 pandemic, global trade was in turmoil. The toll of the two-year old trade war, combined with soft industrial demand abroad, was part of the reason why U.S. domestic trucking experienced soft demand in 2019. Much of the supply chain industry is looking to Chinese output for an early signal of what […]

Friday morning the United States will get its first comprehensive look at how the labor market is faring amid the turmoil of the COVID-19 pandemic when the Department of Labor publishes the March Employment Situation report, commonly known as the “Jobs Report”.  Today we’re sharing the fourth of our twice weekly video series covering the […]

This has been a rollercoaster of a week and it’s not even Friday. Financial markets recorded record losses on Monday, record gains on Tuesday, and another big increase on Wednesday. Will the proposals being considered in the nation’s capital be enough to sustain the economy while businesses are shuttered and states on lockdown? Today we’re […]

There’s no shortage of media coverage about COVID-19’s broad impacts. We hear from our shippers and from the carriers in our network that there’s an appetite for analysis on what the current coronavirus outbreak means for supply chains and for the freight industry from the perspective of a Digital Freight Network. That’s why today we’re […]

This morning the Federal Reserve Board published February Industrial Production data and the U.S. Census Bureau published February Retail Sales. During normal times, this data would provide the first official pulse on the state of freight demand. These are, of course, anything but normal times. The sudden market shift over the first half of March […]

Carrier bankruptcies over the past year have sparked some fears about whether there will be enough truck drivers when freight demand eventually rebounds. The freight industry is cyclical and the market can quickly shift. But fears that recent bankruptcies among trucking companies will prompt meaningful numbers of drivers to seek jobs in other industries may […]

An abbreviated version of this article appeared on Trucks.com in February 2020 Driver turnover is notoriously high in the freight industry — with some estimates suggesting that, on average, trucking companies see their entire driver pool change over each year. Such eye-poppingly high turnover statistics would suggest a massive labor retention crisis. In a year […]