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Former Business Contributing Editor
Evan Lockridge worked for Heavy Duty Trucking for 20 years until 2018. A consummate "news guy" since the 1980s, he began covering trucking in 1990 on nationwide radio, print and digitally.
He is the recipient of four Jesse H. Neal honors.
While the number of jobs added in the U.S. slowed dramatically during March, trucking supplied a big part of the gain, according to Labor Department figures released Friday, helping push the unemployment rate down to almost a 10-year low.
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Private sector employers in the U.S. added the most jobs during March in more than two years, according to figures released Wednesday, while a separate reported showed economic activity in the service sector has eased a bit.
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The number of available loads on the spot market jumped 7.1% during the week ending April 1 as shippers worked to finish Q1 on a high note, according to DAT Solutions and based on its network of load boards.
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Two indicators show that while the manufacturing sector of the economy continued to grow in March, its rate of growth was slower than the month before. Meanwhile, a separate report showed construction spending rebounded to a level that’s the highest in more than a decade.
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Orders for long-lasting durable goods increased more than expected last month while a snapshot of manufacturing activity showed it slowed this month and there were mixed results for housing during February, according to four new economic reports.
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The year started out with trucking and the other four major transportation modes carrying more freight by value with North American Free Trade Agreement (NAFTA) partners Canada and Mexico in January than compared to a year earlier, according to new Transportation Department figures.
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At times, snow may have kept freight from moving last week but it didn’t prevent shippers from at least trying. The number of available loads on the spot truckload market jumped 8% for the week ending March 18 compared to the previous week, according to DAT Solutions and its network of load boards.
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A measure of truckload linehaul rates fell again in February, but it is expected to improve, according to newly issued figures, while a gauge of intermodal rates posted its largest gain in just over four years.
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After a 17% jump the previous week, spot truckload freight volume increased a modest 1.3% during the week ending March 11 while rates gave back at least part of their gains from the week before, according to DAT Solutions' network of load boards.
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The Federal Reserve on Wednesday increased the nation’s benchmark interest rate for the third time since its first hike in nearly a decade in December 2015, amid evidence of a steady economy and indications of more interest rate increases later this year.
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