Wall Street Journal: For Economy, Worst of Coronavirus Shutdowns May Be Over
Recovering air travel, hotel bookings and mortgage applications are among the early signs the U.S. economy is slowly creeping back to life
Recovering air travel, hotel bookings and mortgage applications are among the early signs the U.S. economy is slowly creeping back to life
According to the Bureau of Labor Statistics the truck transportation sector had 1,523,900 employees as of March. In April, that figure dropped to 1,435,600.
DAT Solutions has launched three new products to help truckload carriers and brokers manage some of the uncertainty in the freight business.
April spot freight rates are the lowest in four to five years.
“The pendulum swings both ways,” said Ken Adamo, chief of analytics at DAT. For instance, he said, the sudden deluge of loads in early March — freight like bottled water, toilet paper and refrigerated foods — caused rates to spike on the spot market
Demand for trucking cratered in April. DAT's load-to-truck ratio, a measure of demand, was down 32% year over year (YoY) for vans, down 33% YoY for reefers and down 72% YoY for flatbeds.
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The national average spot van rate hovered around $1.50 a mile during the week ending May 3, a four-year low despite improving freight volumes, said DAT Solutions, which operates the DAT load board network.
To say it’s not a trucker’s market right now is a mighty big understatement. Truckload rates tell the story.
The U.S. economy is likely in the midst of its deepest recession since the end of World War II, when modern records that tracked the nation’s gross domestic product and unemployment rates were standardized.