Job growth continued at a tepid pace in August, with nonfarm payrolls increasing by just 130,000 thanks in large part to the temporary hiring of Census workers, the Labor Department reported Friday. The increase fell short of Wall Street estimates for 150,000, while the unemployment rate stayed at 3.7%, as expected.
The U.S. average retail price of diesel dropped 0.7 cent to $2.976 per gallon, the Department of Energy reported Sept. 3, as the price of crude dropped 2% amid the ongoing U.S.-China trade dispute. The price of diesel has fallen for eight consecutive weeks since July 15, when trucking’s main fuel cost $3.051 per gallon.
The Federal Motor Carrier Safety Administration has issued a proposed rule that would continue to reduce commercial vehicle registration fees in 2020 and 2021, the agency said in a Federal Register announcement on Aug. 27.
The U.S. economy grew at a modest pace through much of July and August, with companies remaining upbeat despite disruption caused by international trade disputes, a Federal Reserve survey found.
China’s Commerce Ministry says talks with the United States on ending their tariff war will take place in early October in Washington, later than previously planned.
A tariff exclusion request for intermodal chassis from China has been welcomed by U.S. fleets and leasing companies, but the request is pitting some US trailer manufacturers against the biggest chassis builder in the industry. The Section 301 exclusion request by the American Trucking Associations was posted August 15, and the comment period closed August 29.
The agency responsible for the health of the U.S. maritime sector will be considering the role that labor and politics play in automating port operations. In comments submitted to the U.S. Maritime Administration (MarAd), Daniel Reiss, president of Automated Terminal Systems (ATS), said that it’s a mistake for terminal operators and port authorities to appease […]
A gauge of U.S. manufacturing from the Institute for Supply Management showed the sector contracted in August, its first decline since 2016. The ISM U.S. manufacturing Purchasing Managers’ Index fell to 49.1% in August, the lowest reading in more than three years. Any reading below 50% signals a contraction.
The number of Americans filing applications for unemployment benefits fell sharply last week, suggesting the labor market was holding firm despite a manufacturing slowdown and concerns the economy is on a path toward recession.
U.S. consumer confidence declined in August by less than forecast as Americans’ assessment of current conditions climbed to the highest level in almost 19 years, helped by a job market that remains robust.
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