If economists and central bankers had a “Public Enemy” category, like INTERPOL or the FBI do, inflation would undoubtedly be elected the No. 1 enemy of the people.
The U.S. economy adds 678,000 payroll jobs in February.
•Crude, diesel prices soar in the wake of the war in Ukraine.
•Retail inventories see another solid increase.
•The surge in new trucking companies continues in February.
•Volatility is the order of the day for rail volumes.
It is widely known that there is a shortage of semiconductors on a global scale that is affecting production in a host of industries. Goldman Sachs says 169 industries are affected by the crunch. The poster child for the shortage seems to be the global auto manufacturing industry, where lost production affects tens of thousands of workers and a great deal of lost revenue.
The U.S. economy adds 467,000 payroll jobs in January.
• Job openings and quits remain close to record levels.
• The number of newly authorized trucking companies remained high in January.
•Diesel rises to its highest price since August 2014 as crude tops $90 a barrel.
• Rail carload and intermodal volumes remain stuck in neutral.
With the technological explosion of data and the rise of social media platforms, the world is faced with new challenges coming from these technological developments. The changes in data collection and analysis are changing the way we do business and are having political and economic impacts that we have only begun to understand.
Prospects for 2022 are bright, as the global economy recovers from the COVID-19 pandemic and loss of economic activity associated with the shutdowns of key economic drivers, aimed to slow the spread of the disease.
U.S. payroll job growth was weak in December, but the labor market is complicated.
• Job openings remain near record levels as job quits set a record.
• Truck spot rates set a record to end 2021.
• Nearly 110,000 new trucking companies entered the market in 2021.
• Rail and intermodal volumes see typical movements during the holidays.