The number of Americans filing for unemployment benefits unexpectedly rose last week, but the underlying trend remained consistent with a tightening labor market. Initial claims for state unemployment benefits increased 3,000 to a seasonally adjusted 244,000 for the week ended Aug. 5, the Labor Department said on Thursday.
More than 21 members of the U.S. House have signed on as co-sponsors to a bill that would delay the compliance date of the looming electronic logging device mandate. The bill, if enacted, would give drivers and carriers two extra years to adopt ELDs by pushing the compliance deadline to December 2019.
A new report released Monday by the American Trucking Associations (ATA) projects freight volumes will increase by nearly 29 percent over the next 11 years. Forecast, a collaboration between ATA and IHS Global Insight, projects a 28.6 percent increase in freight tonnage and an increase in freight revenues of 74.5 percent to $1.52 trillion in […]
A rise in the value of cross-border trucking freight between the U.S. and the other two North American Free Trade Agreement partner counties helped push total value of commodities higher for the seventh straight month in May, according to a new Transportation Department report.
Chicago area draymen are charging shippers surcharges of $75 and even double that for every load moving through one of Canadian National Railway’s intermodal terminals even as th railroad said operations have returned to “near-normal levels.” According to CN, reported five-hour-long wait times at the Harvey, Illinois, terminal, which are a product of “unplanned network […]
Market momentum for airfreight is carrying into the summer of 2017, with rates across 21 major east-west trade lanes up by 1.1 percent, year-over-year, to reach US$2.81 per kilogram. The latest Drewry’s East-West Airfreight Price Index indicates that, as load factors increase, demand for airfreight is outstripping new capacity coming onto the market.
Cargo volumes in the Port of New York and New Jersey are on record pace for 2017 as the first six months of this year were 4.4 percent higher than the same period in 2015, when the earlier record was set.
Carriers’ overall on-time and transit time reliability improved by 6.8%, increasing from 63.3% in May 2017 to 70.1% in June 2017. Reviewing schedule reliability by trade, nine of the 12 trades improved from May 2017 to June 2017, according to the latest data from intelligence provider CargoSmart.
Europe’s oil industry is once again generating cash even as crude languishes at half the price of three years ago. Yet companies remain vulnerable to a renewed downturn. The region’s top three — Royal Dutch Shell Plc, Total SA and BP Plc — can now cover spending from cash flow with oil at $50 a […]
The Dow broke above the 22,000 threshold for the first time ever in what could be its seventh straight daily risk, as the broader market attempts to clamber higher. The rally comes a day after Apple, Inc. posted stronger-than-expected quarterly earnings and iPhone sales that met expectations.
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