Weekly Transportation Update: U.S. adds 353,000 payroll jobs, seasonally adjusted, in January

In January, the United States experienced significant growth in job opportunities, with data revisions revealing an even larger increase in December than initially reported. However, upon annual data revision, it became evident that employment in sectors associated with freight had weakened considerably compared to previous indications. Concurrently, there was a sharp decline in the number of active for-hire trucking companies.

• BLS revision of jobs data drops prior estimate for trucking by 33,000 jobs.
• January sees the largest one-month drop ever in the number of active for-hire trucking companies.
• Calmer weather brings lower spot rates for van equipment.
• STB extends employment data reporting mandate but lets rail service data reporting end.