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Weekly Transportation Update: U.S. adds 272,000 payroll jobs in May; unemployment ticks up

In May, the U.S. economy showed mixed signals. It added 272,000 payroll jobs, but job openings hit their lowest since February 2021. Manufacturing weakened, as seen in the ISM index. On the positive side, real international trade in goods rose in April, and mortgage rates dipped below 7%. Diesel prices fell for the eighth week, while for-hire trucking lost 5,400 jobs despite increased CDL hiring. Truck spot rates stayed stable, and the rail sector saw growth in most carload commodities and year-over-year intermodal growth..

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Transportation Update | March 2022

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.

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C-Suite Synopsis: Freight Transportation for February 2022

Headlines

TRUCKING: Trucking conditions improve, but they might have finally peaked.

RAILCAR: Carload volumes are being held back by four main commodities to start 2022.

INTERMODAL: International volumes remained weak in December and face near-term headwinds to growth in 2022.

SHIPPERS: Fuel costs are proving to be the difference between tough and really tough market conditions.

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Transportation Update | February 2022

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.

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Transportation Update | January 2022

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.

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C-Suite Synopsis: Freight Transportation for November 2021

Headlines

TRUCKING: Strengthening freight rates support a high floor on market conditions for carriers.

RAILCAR: The 2021 carload outlook took another step down in the latest month and now sits at just over 5% compared with 2020. 

INTERMODAL: International and domestic traffic each weakened in September as volumes are metered by providers. 

SHIPPERS: Market conditions are stalled at a level unfavorable to shippers. 

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C-Suite Synopsis: Freight Transportation for September 2021

This c-suite synopsis of the transportation markets is provided to all of our Premium clients along with weekly transportation updates.

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C-Suite Synopsis for July 2021

This c-suite synopsis of the transportation markets is provided to all of our Premium clients along with weekly transportation updates.

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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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Transportation Update | May 2021

Headlines

• U.S. economy sees a disappointingly small gain of 266,000 jobs in April. 
• ISM manufacturing index pulls back a bit on production, employment challenges.
• April soars past March’s record in grants of operating authority for new trucking firms.
• Truck spot market sets volume and rate records.
• Intermodal and rail carload volumes were little changed in the latest week.


Exclusive analysis from our SOF INSIGHTS publication - available to premium subscriber clients. Learn about subscribing to our monthly Trucking Update or Shippers Update intelligence services.


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