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Unemployment

Improvements in industrial production and housing may help drive a truck freight recovery, but spikes in COVID-19 cases in many parts of the country and questions about what Congress may or may not do leave a lot of uncertainty in the forecast, according to analysts at FTR.

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Trucking Loses 88,000 Jobs in April

More than 88,000 jobs disappeared in the truck transportation sector in April, a 5.8% drop from March, both the steepest drops on record – part of a record-setting 20.5 million job loss across the country, as the nation’s unemployment rate rose to 14.7%.

FTR: Don't Look for Positive Trucking Conditions Again Until 2021

According to FTR’s projections for its Trucking Conditions Index, a combination of drastic declines in freight volumes, utilization, and rates due to the COVID-19 pandemic could lead to the worst overall trucking conditions on record during the second quarter of this year.