labor market

December inflation data puts future Fed cuts to bed

In December 2024, U.S. consumer inflation reached an annual rate of 2.9%, largely driven by a surge in gas prices. The Consumer Price Index (CPI) ticked up 0.4% from November, in line with economists’ forecasts.

The core CPI — which excludes items with volatile pricing like food and energy — rose by 0.2% month over month (m/m), rounding out 2024 with a 3.2% year-over-year (y/y) increase. This data betrays persistent inflationary pressures that weigh on both the trucking industry and the Federal...

https://www.freightwaves.com/news/december-inflation-data-puts-future-fed-cuts-to-bed

Labor demand ends 2024 with a surprising bang

The U.S. labor market was more fiery than analysts expected in December 2024, adding 256,000 nonfarm jobs and slightly reducing the unemployment rate to 4.1%, per the Bureau of Labor Statistics.

The robust employment growth — coupled with stable job openings and minimal layoffs — is a double-edged sword, however. The Federal Reserve has already cast doubt on its willingness to continue cutting interest rates in 2025 as inflationary concerns re-emerge; a robust jobs market will only further...

https://www.freightwaves.com/news/labor-demand-ends-2024-with-a-surprising-bang

Driver retention starts with commitment to engagement

Driver turnover is one of the trucking industry’s most ubiquitous and evergreen concerns. The annual industrywide turnover rate has consistently come in at over 90% since the 1990s. Conversations about turnover and retention often hinge heavily on pay, but that is only part of the story. While drivers certainly care about their paychecks, another factor may be even more responsible for this yearly exodus: poor engagement.

It is true that drivers often receive a bump in pay – via higher per-mile...

https://www.freightwaves.com/news/driver-retention-starts-with-commitment-to-engagement

Axle Logistics recognized for employee satisfaction, standout culture

Over the past several years, “culture” has become something of a buzzword in the corporate world. Despite this trending vernacular, the things that make up a company’s culture – energy, diversity and values – are the same things that determine whether or not people want to work there. At Axle Logistics, the answer is a resounding “yes.” 

The Tennessee-based company was recently named a 2022 Knoxville Top Workplace for the fourth consecutive year. Winning companies were selected based on...

https://www.freightwaves.com/news/axle-logistics-recognized-for-employee-satisfaction-standout-culture

Lean Solutions adds business process outsourcing to nearshoring offerings

Perhaps no industry has such lopsided supply and demand for labor as transportation and logistics. Not only is new talent harder to come by but the ever-growing need to move more freight faster is making it nearly impossible to keep pace. Now more than ever it’s becoming evident that today’s unusual labor market calls for unconventional staffing solutions. 

How unconventional? Try business process outsourcing (BPO) with a South American twist.  

Many U.S. logistics providers are turning to Lean...

https://www.freightwaves.com/news/lean-solutions-adds-business-process-outsourcing-to-nearshoring-offerings

Loaded and Rolling: Rounding up the F3 Virtual Experience trucking discussions, chaining up for winter weather and looking at a tight labor market that is hampering hiring.

F3 Virtual Experience trucking roundup
(Photo: Jim Allen/FreightWaves)

Last week FreightWaves hosted the F3 Virtual Experience, which involved industry leaders discussing topics related to the future of freight, key factors impacting markets, industry trends and venture capital investments. Key topics included autonomous and electric vehicles, FreightTech and a demonstration of the new SONAR feature, the Trusted Rate Assessment Consortium (TRAC). Below are some links to presentations, videos and...

https://www.freightwaves.com/news/loaded-and-rolling-rounding-up-the-f3-virtual-experience-trucking-discussions-chaining-up-for-winter-weather-and-looking-at-a-tight-labor-market-that-is-hampering-hiring

Flock Freight attracts top talent in competitive labor market

The logistics industry is rife with opportunities for innovation. Technology is advancing at breakneck speeds, and the previously slow-to-adopt industry is sprinting to catch up. Companies on the cutting edge are working to make transportation more efficient, sustainable and transparent, all attributes industry partners, investors and end consumers are beginning to appreciate more and more. 

The coronavirus pandemic temporarily took a toll on the labor market. Now, however, companies across the...

https://www.freightwaves.com/news/flock-freight-attracts-top-talent-in-competitive-labor-market

Economists Keep An Eagle Eye For Signs Of ‘Moreflation’

Sentiment in financial markets changes quickly. The big worry for most of the last year has been about collapsing growth and falling prices. Now markets are fretting about inflation. Such fears were behind the sharp sell-off in US equities in the early part of last week, reports Reaction.

Rising rates

Investors worry that a strong recovery may create supply shortages and propel commodity prices higher. The ensuing inflation would force central banks to raise interest rates, hitting equity values.

I...

https://mfame.guru/economists-keep-an-eagle-eye-for-signs-of-moreflation/

Outrider automates human-intensive yard and distribution center operations

Outrider automates human-intensive yard and distribution center operations (Photo: Outrider)

The pandemic has made sanitization and social distancing crucial within communities and supply chains alike. Logistics companies look to protect the front-line logistics workforce from contracting the virus, creating safety regulations, and mandating safety gear at all times at workplaces.

In response to those imperatives, autonomous yard operator Outrider has introduced the first-to-market solution that automates yard operations for logistics hubs. Automating human-intensive yard operations...

https://s29755.pcdn.co/news/outrider-automates-human-intensive-yard-and-distribution-center-operations