BLS on Friday released its monthly “Employment Situation Summary,” also known as the Jobs Report, and the results were primarily positive.
The report noted that of the 13,000 new jobs in supply chain-related companies, 9,000 of them came from the trucking sector, which is welcome news for the industry. In recent years, low wages and tough working conditions have caused a shortage of drivers in the truckload and less-than-truckload sectors, and motor carriers have struggled to hire and retain drivers.
Overall, BLS said nonfarm payroll employment, one of the primary measures of employment in the U.S., increased by 280,000 in May, after revised respective gains of 119,000 and 221,000 in March and April. The May increase is 11.6 percent better than the monthly average of 251,000 jobs added for the past 12 months.
The unemployment rate for the month remained relatively unchanged at 5.5 percent.
Average hourly wages for nonfarm payroll employees increased 8 cents to $24.96 per hour in May.
Brokerage Compliance Symposium
The day before F3. Every compliance issue you face - fraud exposure, carrier liability, FMCSA rules, cargo theft, insurance gaps - navigated by attorneys and operators defining best practices in a changing industry.
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The night before F3. FreightTech100 companies honored. FreightTech 25 and Shipper of Choice winners revealed live. Cocktail reception into dinner and live music - 300 industry leaders in one purpose-built room.
F3: Future of Freight Festival
Industry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The day before F3. Every compliance issue you face - fraud exposure, carrier liability, FMCSA rules, cargo theft, insurance gaps - navigated by attorneys and operators defining best practices in a changing industry.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowThe night before F3. FreightTech100 companies honored. FreightTech 25 and Shipper of Choice winners revealed live. Cocktail reception into dinner and live music - 300 industry leaders in one purpose-built room.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowIndustry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register Now