Unemployment

Central Freight Lines’ closure puts quality drivers on market

LTL carrier Central Freight Lines met its demise earlier this week in what many have said was a long time coming after a series of misfortunes. The biggest trucking company shutdown since Celadon’s closure in December 2019, Central Freight similarly leaves 2,100 workers, including 1,325 drivers, without a job just a week before Christmas.

For the drivers, their plans for the new year will involve more than just making resolutions. They will be finding new employment as well. What are their next...

https://www.freightwaves.com/news/central-freight-lines-closure-puts-quality-drivers-on-market

‘As I See It’ from the Trucking Activist: Unavailability

After attending the annual TCA convention in Vegas last week, one very common theme could be wrapped up in one word — unavailability. The obvious unavailable resource would be our driver force. Many carriers are investing more in recruiting costs and higher training costs yet are still barely making a dent in their shortage of drivers.

While this phenomenon has been a huge focus for our carriers over the past two to three years, it has made its way into the mainstream press today. The federal...

https://www.freightwaves.com/news/as-i-see-it-from-the-trucking-activist-unavailability

GLOBAL & REGIONAL DAILY (Thursday, 8 July 2021)

GLOBAL & REGIONAL DAILY (Thursday, 8 July 2021)

GLOBAL & REGIONAL DAILY

HIGHLIGHTS

July 8  2021

Global Markets

US Treasuries extended recent gains reflecting a continued unwind of the reflation trade, while the USD gained broadly after the latest FOMC minutes confirmed that the Committee began talking about tapering asset purchases. Focus today is on the results of the ECB Strategy Review at 13:00 CET followed by a press conference at 14:30 CET.

Greece

According to ELSTAT’s monthly labour force survey...

https://allaboutshipping.co.uk/2021/07/08/global-regional-daily-thursday-8-july-2021/

Pandemic Adversely Affects Over 9 Million Job Seekers

Companies eager to open their doors to capitalize on vaccinated and eager customers are having trouble finding workers — which means consumers should expect longer wait times, delays in service, and higher prices overall, labor economists warn, reports NBC News.

Shortage of workers

“The reason that there are so many openings is that they do not pay a living wage,” said one job seeker.

The worker shortage is hitting everyone from restaurants to travel to manufacturers, as they try to hire back...

https://mfame.guru/pandemic-adversely-affects-over-9-million-job-seekers/

Backdrop for carriers picture perfect as produce season begins

This week’s DHL Supply Chain Pricing Power Index: 75 (Carriers)

Last week’s DHL Supply Chain Pricing Power Index: 80 (Carriers)

Three-month DHL Supply Chain Pricing Power Index Outlook: 75 (Carriers)

The DHL Supply Chain Pricing Power Index uses the analytics and data in FreightWaves SONAR to analyze the market and estimate the negotiating power for rates between shippers and carriers.

The Pricing Power Index is based on the following indicators:

Load volumes: Absolute levels and momentum positive...

https://www.freightwaves.com/news/backdrop-for-carriers-picture-perfect-as-produce-season-begins

Getting gig workers the unemployment they deserve

Gig workers typically don’t qualify for unemployment, but changes made in COVID-19 relief legislation made that possible in 2020, and it has continued into 2021. However, the nature of gig work and payment processes can make it difficult to prove income and open up the program to fraud.

The Workers Lab and Steady have launched The Workers Lab Design Sprint to help assist those gig workers who qualify for unemployment insurance with the use of the Steady App. 

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https://s29755.pcdn.co/news/getting-gig-workers-the-unemployment-they-deserve

‘Shecession’, the Covid 19 Impact On Women and Jobs

  • The COVID-19 pandemic has reversed many of women’s workplace gains, causing a ‘shecession’, according to a new report.
  • In 17 of the 24 rich countries where unemployment rose last year, women were more likely than men to lose their jobs.
  • On average, women spent 7.7 more hours a week than men on unpaid childcare last year, forcing some women to quit their jobs altogether.
  • The report concluded that progress towards gender equality at work would not begin to recover until 2022.

A recent news...

https://mfame.guru/shecession-the-covid-19-impact-on-women-and-jobs/

Leading Economist States His Top 5 Predictions For 2021

Saying the yr 2020 wasn’t an awesome one for the economic system is a little bit of an understatement, reports Shipping.

 Increase in unemployment 

Retailers shuttered, companies had been pressured to shut or, worse, go bust, and unemployment hit 1 million individuals as sectors like hospitality and tourism had been decimated.

However economist Chris Richardson, from Deloitte Entry Economics, is upbeat about 2021 — a lot so, his enterprise outlook for the yr is: “We received this.”

He expects...

https://mfame.guru/leading-economist-states-his-top-5-predictions-for-2021/

What matters most — Freightonomics

When times get tough, here’s what’s really important

When things get hard, this is what’s really important in the markets.

Anthony Smith and Zach Strickland made their predictions for the state of freight in the first 2021 episode of Freightonomics, and in this new episode they break down what matters most to influence those predictions. 

2021 started off right where 2020 ended, with tight capacity and high rates. Consumer spending took a slight dip from November to December, but stayed strong...

https://www.freightwaves.com/news/what-matters-most-freightonomics

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