With the explosive growth of the freight market during the COVID-19 pandemic, cargo theft and fraud surged. Thieves stole more than $31 million in shipments just in the third quarter of 2023.
HDT Fact Book 2023: Industry Adjusts to the Downside of the Freight Cycle
While 2022 was a challenging year for trucking, there was still growth in revenue, tonnage, employment, and other areas. In mid-2023, a number of data points appear to indicate that the current freight cycle is bottoming out. How fast it will head back up is another question.