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Weekly Transportation Update: East/Gulf Coast container terminal strike suspended after three days
The FTR Experts
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Weekly Transportation Update: East/Gulf Coast container terminal strike suspended after three days
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In the latest U.S. economic update, payroll employment rose by 254,000 jobs, while the unemployment rate eased slightly to 4.1%. August saw a notable increase in job openings, though construction spending remained sluggish. Mortgage rates edged higher despite the Federal Reserve’s recent rate cut. Diesel prices rose marginally, while crude oil experienced a significant single-day gain on Thursday. Trucking jobs showed little movement in September, and Q3 saw fewer for-hire carriers exiting the market. Spot rates remained weak, and total rail traffic was essentially flat year-over-year. Meanwhile, work at East and Gulf Coast container ports resumed operations.
- The U.S. adds a robust 254,000 payroll jobs in September.
- Payroll employment in trucking changes little as the net decrease in carriers stabilizes.
- Trucking spot rates move mostly in line with seasonal expectations.
- Overall rail traffic was in line with 2023 as both carload and intermodal underperform recent trends.
