Truck transportation jobs trend higher while warehouses shed workers
Truck transportation jobs continued a slow recovery from the depths of the freight recession and the job losses created when Yellow Corp. went out of business in 2023.
The December figures released by the Bureau of Labor Statistics on Friday showed that seasonally adjusted truck transportation jobs rose 3,300 last month, rising to 1,586,300 jobs. That increase also was fueled by upward adjustments in the earlier-reported figures for November and October. As a result, the December figure was 5,700 jobs more than the “final” figure for October of 1,580,600 jobs.
Ocean shipping rates jump more than 50% in key lanes
Ocean shipping rates are spiking in certain lanes as attacks in the Red Sea lead to higher operating costs for carriers, according to Freightos.
As of Jan. 3, rates from Asia to Northern Europe rose 151% week-over-week to more than $4,000 per forty foot equivalent unit. Similarly, Asia to the U.S. West Coast grew 63% to $2,713 per FEU, which Freightos said may reflect a shift to the West Coast to avoid East Coast transit times.
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Commercial Suez Canal traffic down almost 60%
Commercial vessel volume in the Suez Canal has fallen by 59% when compared to volumes seen before Houthis started attacking commercial ships, based on a recent report.
According to a survey published January 3 by project44, entitled “Houthi Attacks Disrupt Global Supply Chains,” 207 ships that were originally routed to go through the Suez Canal have been impacted by Houthi attacks.
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