Trucking jobs slip in September as warehousing takes unexpected plunge

Jobs in the truck transportation sector saw a decline in September; while warehousing and
storage jobs experienced a significant drop, according to an October report by the Bureau of
Labor Statistics (BLS).

Trucking jobs totaled 1,543,600 in September, down by 700 from the revised August figure of
1,544,300. Multiple reports predict that this downward trend may persist, complicating the
already tight labor market for truck drivers.

S&P Global data recently revealed that U.S. truckload spot rates remained flat in September,
extending the low rates that have been hurting industry profitability.

This ongoing strain has forced many firms to reduce their workforce, contributing to the decline
in trucking jobs.

According to findings from Truckstop.com, DAT Freight & Analytics, and third-party logistics
operators, spot truckload rates have been hovering near the bottom since mid-2023, showing
only slight increases compared to year-ago levels.

Meanwhile, the warehousing and storage sector recorded a steep drop, losing 11,000 jobs in
September to reach a total of 1,776,600.

This marks the second consecutive month of decline following job growth in six of the first seven
months of 2024.

Economist Aaron Terrazas told FreightWaves that historically, a decline in both trucking and
warehousing jobs comes from trouble for the consumer economy.

However, he noted that this recent decline is driven by “the long echo of pandemic-era efficiency
and process management improvements,” rather than from economic weakness.