TRUCKING & WAREHOUSING

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Baldwin Gardner
5 years ago
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1 TRUCKING & WAREHOUSING Trucking Employment Total trucking industry employment fell by 600 jobs in February. That s the first drop in industry employment since October, ending a quarter-long streak of consecutive increases. For-hire trucking industry employment totaled million jobs in the month. (Source: U.S. Bureau of Labor Statistics Warehouse Employment The transportation and warehousing sector, which includes trucking, lost 20,500 positions in January and showed little change over the month of February. (Source: U.S. Bureau of Labor Statistics Truck Orders Class 8 truck orders were down as demand fell slightly compared to January. Net Class 8 orders fell around 2% for the month and 43% compared to February For the month, FTR is projecting 17,650 units moved for the month. (Source: FTR Associates ftrassociates.com) Cass Truckload Line Haul Index The Cass Truckload Linehaul Index increased only 0.4% in January, a fifth consecutive month of waning truckload pricing strength. (Source: Cass Information Systems Purchasing Manager's Index (PMI) The February PMI registered 49.5 percent, an increase of 1.3 percentage points from the January reading of 48.2 percent. The New Orders Index registered 51.5%, the same reading as in January. The Production Index registered 52.8%, an increase of 2.6%. The Employment Index registered 48.5%, an increase of 2.6%. Imports registered 49%, a decrease of 2%. Supplier Deliveries registered 49.7%, a decrease of 0.3%. (Index #'s over 50 indicate + growth). (Source: Institute for Supply Management)

2 HUMAN RESOURCES & BENEFITS Online Labor Demand Online advertised vacancies increased 162,100 to 5,334,300 in February, according to The Conference Board Help Wanted OnLine (HWOL) Data Series. The January Supply/Demand rate stands at 1.42 unemployed for each advertised vacancy with a total of 2.3 million more unemployed workers than the number of advertised vacancies. The number of unemployed was around 7.8 million in January. (Source: The Conference Board, BLS) Health Care Reform More than 20 million adult Americans have gained health insurance coverage due to the health care reform law. The U.S. Department of Health and Human Services noted that coverage gains varied widely by race and ethnicity. For example, among white non-hispanic adults, the uninsured rate as of Feb. 22 was 7%, down from 14.3% as of Oct. 1, 2013, while during the same period the uninsured rate among black non-hispanic adults declined to 10.6% from 22.4%, and among Hispanic adults to 30.5% from 41.8%. (Source: Business Insurance businessinsurance.com) White Collar Exemptions The proposed changes to the white collar exemptions of the Fair Labor Standards Act (FLSA) are expected to be finalized early summer 2016, late 2016, or even sometime in If the final rules mirror the proposed rules, the salary level of $50,440 will more than double the salary threshold for workers otherwise eligible for a white collar exemption from minimum wage and overtime requirements under the FLSA. The rules also propose an automatic annual adjustment to both the white collar salary level and the highly compensated employee compensation rate. (Source: Department of Labor dol.gov.com) The Gig Economy Professionals choose freelance jobs in order to gain more control over their lives, have flexibility and be their own boss. By 2020, about 40% of Americans will be part of the gig economy, and Uber already has over one million drivers globally. The trends that have created the gig economy include: the rise of freelancing, the access of technology (especially on the mobile phone), the impact of the recession and the desire to have sidegigs and flexibility. For employers, the gig economy allows them to hire on-demand, lower costs and have more competition for talent.

3 G O V E R N M E N T & REGULATIONS Electronic Logging Devices (ELDs) On Feb. 16, manufacturers were able to register and self-certify their ELD products. Most commercial drivers will need to be using ELDs by Dec. 16, 2017, two years following the rule's publication. Fleets and trucking companies that are using devices compatible with older automatic onboard recording device, or AOBRD, standards have another two years beyond that through Dec. 16, 2019 to have ELD-compliant devices in trucks. (Source: Fleet Owner) Unemployment Insurance In the week ending March 5, the advance figure for seasonally adjusted initial claims was 259,000, a decrease of 18,000 from the previous week's revised level. The previous week's level was revised down by 1,000 from 278,000 to 277,000. The 4-week moving average was 267,500, a decrease of 2,500 from the previous week's revised average. The previous week's average was revised down by 250 from 270,250 to 270,000 (Source: U.S. Dept. of Labor) Unemployment Rate In February, the unemployment rate held at 4.9%, and the number of unemployed persons, at 7.8 million, was unchanged. Over the year, the unemployment rate and the number of unemployed persons were down by 0.6% and 831,000, respectively. (Source: U.S. Dept. of Labor) Safety Fitness Determination Rule The proposed Safety Fitness Determination rule will introduce a new safety ranking by integrating on-road safety data from inspections, along with the results of carrier investigations and crash reports, to determine a motor carrier s overall safety fitness on a monthly basis. The currently used model has three levels: satisfactory, conditional, unsatisfactory. The new rule will replace it in favor of an unfit score, meaning that a motor carrier would have to take immediate action and improve its rating or discontinue operation. (Source: Federal Motor Carrier Safety Administration fmcsas.dot.gov)

4 MILLENNIALS & TECHNOLOGY Study Finds Millennials Would Leave Current Job For Opportunity According to Pew Research, Millennial consumers comprise more than one-third of the U.S. workforce. This consumer group surpassed the Baby Boomers in 2014 and Gen X in 2015, and a large portion of the Millennial generation, aged 16-21, have yet to enter the workforce. Thirty-six percent of Millennials said they would leave their current job, even if they felt it was a good fit for them, if offered an annual $1,000 raise to work somewhere else. In response to the question, "Would you leave your current job - if you are happy there and you are a fit culturally - for a better sounding opportunity?" For $1,000, or roughly 50 cents more per hour, 36% of those surveyed said they would. Twenty-eight percent would leave for a $5,000 raise ($2.50 more per hour), and 24% would for $10,000 ($5 more per hour). Only 3% would not switch. (Source: JKNUS en.jknus.com) 4 Tips To Attract Millennials To Trucking Marketing teams everywhere are trying to figure out how to get the attention of millennials. The trucking industry is no different. Here are four key areas where the trucking industry can improve to attract the next generation of industry workers: (Source: Network Fob Adapting to cloud-based technology Always On mentality with a reliable Transportation Management System Visibility of data across all streams of the transport progress Naturally collaborative via social networks already in use Weigh My Truck Mobile App A new app from Comdata and CAT Scale combines one of the most widely accepted payment solutions in the fleet industry with the power of the largest scale network, allowing drivers to quickly stop, weigh and pay without ever having to leave their cab. Drivers can complete the process and be back on the road in minutes. (Source: Fleet Owner)

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