LOGISTICS INDUSTRY NEWS IN 2 MINUTES: Q2 2019

Only have a few minutes to gain insight into the latest news? Our quick logistics update is perfect for you. 

Tightened Capacity During International Roadcheck Week June 4-6

Each year the Commercial Vehicle Safety Alliance’s (CVSA) conducts a three-day commercial motor vehicle and driver inspection and enforcement event. During this 72-hour period the North American commercial vehicle inspectors perform tens of thousands of intensive 37-step Level 1 inspections on drivers and vehicles. This year, extra emphasis is being placed on steering and suspension systems. Many drivers would rather not deal with these intense inspections and take their trucks off the road causing a capacity crunch during the time period.

  

New Report Finds Trucking Industry Revenues Topped $700 Billion

American Trucking Associations just released the latest edition its annual compilation of trucking industry data – ATA American Trucking Trends  – highlighting the industry’s dominance over the freight market.

Among the findings in this year’s edition of Trends:

  • Trucks moved 10.77 billion tons of freight, 70.2% of all domestic freight tonnage

  • The industry generated $700.1 billion in annual revenue in 2017, 79.3% of the nation’s freight bill

  • The industry moved 69.1% of all trade between the U.S. and Mexico, and 57.7% of Canada-U.S. trade

  • Roughly 7.7 million people were employed in jobs related to trucking activity, including 3.5 million drivers

  • Of those 3.5 million drivers, there were 1.7 million heavy and tractor-trailer drivers. Minorities account for 40.6% of all drivers and 6.2% of truck drivers are women.

 

The TIA Presses Congress For Infrastructure Investments

The Transportation Intermediaries Association will hold their annual 3PL Policy Forum in Washington, D.C., June 11-12 to meet with members of Congress and their staff. They are seeking to rally behind the need to invest in infrastructure and gain commitment from our elected officials to fund projects to improve our roads and bridges.

 

Competitive Market Boosting Driver Pay and Benefit Packages

New data reveals that driver pay has increased with the rising demand for freight transportation services. “This latest survey shows that fleets are reacting to an increasingly tight market for drivers by boosting pay, improving benefit packages and offering other enticements to recruit and retain safe and experienced drivers,” said ATA Chief Economist Bob Costello.

Along with increased pay, Costello said fleets were offering generous signing bonuses and benefit packages to attract and keep drivers. “I expect that trend to continue as demand for trucking services increases as our economy grows.”

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