According to the U.S. Labor Department, the for-hire trucking sector gained 2,800 jobs in July, putting its total employment figure at more than 1.46 million, the highest it’s seen in more than 8 years. More broadly, the transportation and warehousing industry saw an increase of 14,400 jobs. Total non-farm employment jobs went up by 215,000 this month too—the overall unemployment rate is still at 5.3%, the lowest it’s been longer than seven years.
Factors for the increases include baby boomers retiring, women leaving the workforce, or job skills no longer matching up. Other fields that saw major gains this quarter were retail, health care, professional and technical services, and financial activities.
While the rise may have fallen short of economists’ expectations, it’s good news for truckers and warehouse and transportation professionals across the country.
Stay tuned for further updates as the next quarter looms!
Economic Watch: Trucking, Overall Employment Improve