U.S. employers added the most workers since February last month and wages ticked up, providing a reassuring sign of economic strength amid concerns over stock market volatility, rising federal interest rates and a trade war with China. Non-farm payrolls grew by 312,000 jobs in December, according to numbers released Friday by the Labor Department.
Tom Wilson, CEO of Allstate, the insurance giant, believes an iconic element of the national character is doomed. “Americans’ love affair with the car is going to go away,” he told an audience of executives at Fortune’s Brainstorm Tech dinner on the sidelines of the Consumer Electronics Show in Las Vegas on Monday evening.
The Federal Motor Carrier Safety Administration’s pre-holiday granting of petitions to preempt California’s meal and rest break rules for truck drivers, which differ from current federal hours-of-service regulations, is being met with either cheers or jeers from a range of trucking stakeholders.
Looking back, looking forward. It’s what we do here at the end of the year, an artificial boundary in time. Reporting on the trucking industry was eventful in 2018, and it looks to get even more exciting in 2019. Here are nine areas I believe we’ll be keeping a close eye on in the new […]
The Association of American Railroads (AAR) today reported U.S. rail traffic for the week ending December 22, 2018. For this week, total U.S. weekly rail traffic was 567,252 carloads and intermodal units, up 4.2 percent compared with the same week last year. Total carloads for the week ending December 22 were 277,111 carloads, up 3.1 […]
Air cargo volumes for November bucked normal seasonal trends and declined compared with October levels. The latest figures from analyst WorldACD show that there was a 1.4% year-on-year (YoY) decline in cargo volumes in November, but more surprisingly there was a slip of 2% compared with October. Usually air cargo demand increases in November as the industry […]
Shippers’ frustration with their inability to pick up containers and return empties at the Los Angeles-Long Beach port complex is rising, as thousands of dollars’ worth of detention and demurrage charges are accumulating owing to an unusual period of congestion.
The U.S. average retail price of diesel dropped 2.9 cents to $3.048 a gallon, the U.S. Energy Information Administration reported, as crude oil prices hovered around $45 per barrel.
Oil started 2019 with another price slide as weaker Chinese manufacturing data pointed to slowing demand in the world’s second-biggest consumer of the fuel and to growing risks of a global crude surplus.
A survey of American manufacturers showed the slowest growth in December in 15 months, reflecting a dip in confidence among executives about how their businesses will perform in the new year. IHS Markit said its manufacturing PMI slipped to 53.8 in December from an initial reading of 53.9, and it was down from 55.3 in the prior month.
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