State of Freight TODAY

Weekly Transportation Update: East/Gulf Coast container terminal strike suspended after three days

Written by The FTR Experts | 10/7/24 2:11 PM
 

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.