Trucking conditions, tonnage hauled both declining through summer
Summary
“We expect negative TCI readings to continue for nearly a year longer and little, if any, improvement until early 2024.” Vise added that market challenges “are not uniform, as the current market is hitting small carriers much harder than larger ones, especially considering the recent upturn in diesel prices.” Additionally, the American Trucking Associations’ advanced seasonally adjusted (SA) For-Hire Truck Tonnage Index decreased by 0.8% in July after falling 0.3% in June. “Headwinds for freight remained in July, pushing the truck tonnage index lower,” said ATA Chief Economist Bob Costello. “As has been the case for several months, a multitude of factors have caused a recession in freight, including sluggish spending on goods by households as consumers traveled more and went to concerts this summer. The UPS Teamsters National Negotiating Committee will immediately meet with the company to work to resolve any outstanding issues with the supplement. • Wage increases for full-timers will keep UPS Teamsters the highest paid delivery drivers in the nation, improving their average top rate to $49 per hour.