TRANSPORTATION TRENDS: 2-6-23

Bureau of Labor Statistics reported higher employment numbers in truck-related workforce/warehousing in 2022. Truckload Outbound Tender Rejection Index is at an all-time low.

Industry Updates:

As 2022 came to an end, the Bureau of Labor Statistics (BLS) updated the final revisions of employment numbers and reported higher numbers than previously reported in workers in truck-related workforce/warehousing. 

Truckload:

End-of-month showed a tightness in capacity last week. Spot posts were up 17.6% while truck postings decreased 7.7% on the spot market. On a monthly analysis, January was a much better environment for shippers this year than last year. Spot posts were down 68.5% year-over-year while truck postings were up 33.8% year-over-year. This data is comparing January 2022 to January 2023.

Last week, Outbound Tender Rejection Index (OTRI) was discussed briefly. According to DAT, data  showed that the OTRI is at the lowest point in their data set – excluding the 2020 Pandemic period. Currently, the index is showing at 3.66%, lower than the 3.78% low that was seen in 2019. 

Less-Than-Truckload:

LTL carriers may continually be working through service issues at a terminal level due to winter weather. This weather can affect terminals that are not directly involved in the weather. Terminals may issue the following: freight embargos, dimension/quantity restrictions, and transit delays. TLI is actively monitoring these situations and will update any affected customer with solutions.

TLI is actively monitoring situations in the industry, such as acquisitions, embargos, and other industry disruptions. If a TLI client is directly affected by any of these events, your TLI representatives will reach out to discuss what this means for your account.

TLI highly suggests that on all shipments you provide our team with the “Must Arrive by Date” (MABD) as to when you need the product delivered. This will help us select the proper transit time / equipment type at the best current freight rate.

Please contact your Translogistics team at 610-280-3210 for any further questions. 

*article written by Mitchell Kinek, Sales/Marketing Executive, Translogistics. Any questions, please do not hesitate to reach out!

The chart above depicts national average line haul rates and fuel surcharges for equipment in the past 4 months, from DAT.