Heavy Duty Trucking Logo
MenuMENU
SearchSEARCH

Unemployment Improves In January

The unemployment picture improved in the United States during January with the creation of new jobs occurring at the fastest rate in more than two years

by Staff
February 7, 2003
2 min to read


The unemployment picture improved in the United States during January with the creation of new jobs occurring at the fastest rate in more than two years.

The U.S. Labor Department reported Friday the jobless rate fell 0.3% to 5.7%, a four-month low. Non-farm payrolls added 143,000 jobs during the month, after falling 156,000 in December, the biggest increase in payrolls since November 2000.
"It is too soon to know how many of the newly created jobs in the January labor market report signal a continuation of the upturn in economic activity that began in December," said Newport Communications Senior Economist Jim Haughey. "Some of them may have been only a reversal of the equally unexpected 153,000 job loss in December. The January report reversed the 100,000-plus job decline a month earlier in the usually steady food service industry with little month-to-month change in most other industries.
According to Haughey, there were four signs that the labor market is improving. "Average weekly hours rose 0.1%, average weekly earnings increased 0.3%, aggregate payrolls were up 0.8% and the parallel survey of households -- notoriously volatile -- reported 1,097,000 more people employed," he said. This starts the current quarter with employment 0.2% above the fourth quarter average and probably assures that growth in the gross domestic product will recover to 2%-3% in the winter after slipping to 0.7% in the fall.
Haughey said employment is currently only 67,000 less than last January as the growth in demand was absorbed by the 4.7% rise in labor productivity, the highest since 1950. "Employment is not likely to show any significant gains until late in the year when demand growth picks up and productivity growth slips back to the 3% sustainable trend. But income growth will continue rising at 3% plus inflation due to wage increases. This assures continues modest spending and freight gains," he said.

More Fleet Management

Fleet Managementby StaffJune 24, 2026

What Trucking Events are Happening in 2026?

Looking for trucking-related conventions, expos, and other events? Heavy Duty Trucking has developed this list of national and larger regional trucking shows and events.

Read More →
LIne graph showing spot rates and driver availability over time
Fleet Managementby Deborah LockridgeJune 22, 2026

Truckload Rates Keep Rising as Tight Capacity Fuels Freight Market Recovery

Spot and contract rates continued climbing in May and June, not because freight demand is surging, but because fewer trucks and drivers are available.

Read More →
Geotab screen on AI concept background
Fleet ManagementJune 17, 2026

What Geotab's New AI Connector Means for Fleets

Fleets can now ask their usual AI assistants questions about maintenance, safety, fuel use, and vehicle performance, using their live Geotab data, and take action on the answers without leaving their preferred AI tool.

Read More →
Ad Loading...
Image of computer screen with BidBoardX interface

New C.H. Robinson Tool Opens Door to More Predictable Freight

BidBoardX lets carriers search, bid on, and secure committed freight opportunities through a single digital marketplace.

Read More →
Amazon electric cargo bike on New York City street
Fleet ManagementJune 15, 2026

New York City's Microhub Project is Delivering Results

Trucking, last-mile delivery companies, and environmental advocates like what they are seeing so far with New York's microhub program.

Read More →
Illustration of hourglass and trucks backed up to a dock
DriversJune 15, 2026

Why Truck Detention Keeps Costing Fleets Time and Money

A 2024 ATRI study found detention affects nearly 40% of truckload stops and costs the industry more than $15 billion annually. Despite the toll on drivers, fleets, and supply chains, the problem remains stubbornly persistent.

Read More →
Ad Loading...
Panel discussion
Fleet Managementby Deborah LockridgeJune 12, 2026

Time is Running Out to Apply for Exclusive HDT Event

Heavy Duty Trucking Exchange brings fleet managers and suppliers together for the deeper conversations that lead to ideas, partnerships, and solutions. Time is running out to apply for the September event.

Read More →
Empty trailer with worker loading a pallet of cargo
Fleet ManagementJune 10, 2026

Amazon Launches Less-Than-Truckload Freight Offering for All Businesses   

This launch is the latest addition to Amazon Supply Chain Services, a portfolio of supply chain capabilities from Amazon, including freight, distribution, fulfillment, and parcel shipping.

Read More →
Stacks of intermodal containers at port with truck driving between them

Import Cargo Volume to See Year-Over-Year Gain Again in June, Then Remain Below 2025 Levels Into Fall

After July, the report predicts a weakening in import volume as consumer uncertainty remains high and the impact of increasing inflation takes its toll.

Read More →
Ad Loading...
Equity Interest Auction
SponsoredJune 8, 2026

AUCTION OF EQUITY INTEREST IN HEAVY HAUL TRUCKING COMPANY!!

Mark your calendar: June 30, 2026 (10:00 a.m. PDT). A 37.5% ownership interest in MagnaTrans, LLC, a California limited liability company doing business as Magna Transportation Group, will be sold in an in-person and online auction to the highest bidder or bidders under Article 9 of the Uniform Commercial Code. The Rancho Cucamonga-based heavy haul and over-dimensional trucking company operates across California, Oregon, and Arizona.

Read More →