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September Newsletter

 


 

Why aren’t we getting more truck drivers?

Government data suggests that driver hiring has screeched to a halt. If the end of generous unemployment benefits doesn’t work, what will? Perhaps the market's challenge isn't really the total number of drivers anyway.


Enjoy this excerpt from our exclusive analysis produced for our SOF INSIGHTS publication - available to premium subscriber clients. Learn about becoming a subscribing client to our transportation intelligence services.


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Transportation Update | June 2021

Headlines

Rebound in auto output key to May’s strength in industrial production and manufacturing output.
• Retail sales fade slightly in May after two stimulus-fueled months of record spending.
• Housing starts stabilize with a small gain after three months of volatile activity.
• General freight truckload Producer Price Index posts its strongest gain ever in May.
• Rail carload rebounds to pre-holiday volume but intermodal still lags.

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Changes are coming to the U.S. economy: Things to watch for in coming months

The latest Federal Reserve Beige Book noted that economic activity increased from early April to late May as vaccinated consumers returned to normal activities and businesses dropped pandemic restrictions. Economic activity is picking up as vaccinations are increasing and restrictions are being relaxed. Firms benefited from an $800 billion assistance for small businesses and owners are yearning for a return to a “normal” economy. Along the way, Major League Baseball is slated to return to full capacity and the largest state economy, California, will shed its final COVID-era restrictions on June 15 and give bars, restaurants, and other businesses a green light on the road back to “normal”. Despite a strong advance, the recovery is not without problems. Despite still having large numbers of unemployed people, labor shortages persist in the United States. Supply chain shortages are rampant across the manufacturing sector and inflation is emerging as a threat to future growth. This article will attempt to shed some light on future economic developments and to show that the economic transformation that we are seeing now will hopefully develop into a self-sustaining economic recovery.

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