Trucking and the Economy: Consumers, Employment and Capacity Increases
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- Опубликовано: 16 мар 2024
- The trucking industry, freight market and the general economy are closely tied together, so today let chat about what is going on with consumers, inflation, employment and truck capacity.
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References:
www.wsj.com/economy/consumers...
www.bls.gov/news.release/pdf/...
www.businessinsider.com/reces...
In my opinion, Trucking Industry is the best state of the economy indicator. Everything else (CPI, GDP, Unemployment rate) may be and probably have been artificially inflated or tampered. They should have a LTI - Logistic and Transportation Index 😎
I've been deadheading way more than normal just to find loads at a decent rate. I'm trying to stay close to the Midwest, but rates are falling apart there, too. We were working with a dispatch company but justifying their fee on top of low rates wasn't working out
What is the rate that they achieve xith you
The market analysis is going to the next level!
Thank you for the info Miranda )))
Great positive vibes as Always!!
You are a model educator. Many thanks for your analyses and communication. Our thoughts are with you during these challenging times !
Thank you for all you do to help us!!
Very thankful for the information! Your updates and insights are a blessing!
Love the closing quote! Thank you for your optimism.
Thank you for your time and support 🙏🏾
Wise and uplifting words from your Grandma, please thank her on my behalf. Thank you also for everything you do.
Love your detailed analysis. Love how you give practical examples. Love your videos.
Thank you for working into your video a ray of hope and encouragement to keep our chins up through these difficult times.
Nothing ever lasts forever?? This has been going on for freaking 3 years!! How many more years do we have to deal with it?
This isn't normal
Appreciate it of all your hard work! You are the best!!
Keep it up girl, those were wise word from a savvy grandmother, we should start listening and applying that knowledge in this days and slow the pace a little and will see a difference. Have a great Sunday.
New carrier increases doesn’t mean more trucks . Many are likely Independent Contractors that were leased on to carriers that because of California’s AB-5 and US Dept of Labor’s stricter classification requirements to truly be an Independent Contractor these folks are obtaining their own authority. Actual trucks vs load ratio may not be increasing. Either way your assessment is spot on. So happy I am near the end of it!
Great video thank you
Thanks for your hard work to bring us these videos. This last week was yard for me. 3 loads canceled at the last second. Was able to find a load on Thursday to replace a contract load that was canceled but on Tuesdsy had to dead head 300 miles back home and did 3 local loads which ended up paying more than the broker load to come back home. Difficult week for me since the last 4 weeks I have been primarily local but thise local loads are going away by the end of April.
Thank you for your post.😊
Ms info just started my LLC was waiting around that time. Thank you!
The case of eggs I buy was $5 for 5 dozen eggs it rose in 4 months is now $30. That is a ton more than the rate they claim.
Eggs for breakfast every day is looking like too much money to continue.
It's gonna be the same below average market till new admin. And still to many trucks
Excellent data
We will hang in there Miranda. Thx 🙏 Ed
Nice video, time will get better
Thank you 🙏
Thankyou , and Grandmother too ! God bless you both, with Off Duty - Sabbath days ! ❤😊
Spasybo Miranda!Дякую! ;)
Nice update
Good job keep going
Thanks, God job.
Thank you
Your grandmother was a wise woman. Thanks for your insightful analysis.
NICE INFORMATION
👍🙏best wishes... Good luck !
Been driving for 25years and about 90% of what trucks deliver are essential items and people can't do without food or household goods. Only hazmat or flatbed will get slow but I don't see a excuse for us using things we can't live without but all the new MC's are from those crooked companies in chicago that switch between different llc's and mc's all I know is people can't stop eating or using paper towels but a group of people came here to cause turbulence in the American supply chain and destroy the American economy, when trucks stop people start to die so let's see why can hold out longer because truckers usually have other trades not just driving
You know what also makes rates go up?
Ask for higher rates.. say no to cheaper freight and yes to higher
Hey lettttsss goooooo thanks!!!!!! And yes grandma is righttttt
🎉 excellent imfo
Grandma is never wrong! 💚🙏😁
Data of MI Uni very limited to the sample size. Early March increase in carriers was explained earlier. Fed March meeting to take place 19-20 and may still bring surprise. On inflation you absolutely right.I see that market getting warmer day by day in March compare to Feb. RPMs going up on Flatbed, just booked over 3$ out of Salt Lake. Besides one funny story of yesterday, broker was helping my friend to find tarps near Boise ID so he can take his load of onions )
Sometimes I think the best option is just to keep one's head down and stay very very busy. Keeping my focus on the task at hand direct me away from looking at the lingering problems over which I have no control.
LA ports report 60 percent more containers moved compared to this time last year for the month of February.
Very nicely put😊 This was my bedtime story.
Its not just that your MC is to new its your to clean . You haven't had a inspection in a moment. They dont even seem to take into consideration that you are with a insurance company that doesn't just take on anyone. I guess you got to pull into a weight station and beg for a level 1 2 or 3 inspection so that they believe you are a real company. 😅
First I've heard of produce season in trucking, read a little bit about it on coyotelogistics. Starts in florida and texas. Interesting, interesting. Are you making any changes to how you will be tackling produce season from years past?Those new maps you are using might help, plus what you already know. Oh yea before you talked about that, the economy: stuff I buy I notice is more expensive than it used to be as well. That prediction from Joe...who knows? I wonder if he has anything to gain from his "suggestion" since that would influence his prediction or maybe its just a neutral insight, didn't look into it. Thanks for the vid and have a good one everyone.
Hello Ms Miranda blessing how have you been
Miranda❤️❤️❤️❤️
I remember 1 dollar dozen just a few years ago . I heard someone has been having people commit arson on poultry processing plants
Miranda ? Be careful with the word hope... One of these days I'll define that word for you ! 👍
Excuse me good job.
This year strange for sure. Up and down.
You say hang in there I will say people need to leave most of them surviving cuz they are used to survive on crumbs while bringing standards down they have to go
FMOC will not cut rates this year
Why the dat has been down?
Don’t forget to vote. 🇺🇸
In my opinion is just the tax season and a lot of owners and drivers on 1099 working more to pay their tax bills.
After tax day they relax and capacity will decrease)
"Your empty is too new" SERIOUSLY, WoW!!
MC
@@TruckingMadeSuccessful My bad I musta only been using one ear
The best teacher and reporter on the U.S. Trucking industry is a Ukrainian-Georgian woman...
The Lord works in mysterious ways.
🤣
👍
We are always looking to blame this or that… I blame the automatic transmission and the GPS, before those, one had to have 3 brain cells working on their brain to be a truck driver.
Well maybe if you had one of these more efficient truck, s you might just not notice the price of fuel or the lower rate,s being a total concern but as a challenge to see just how much you could cut cost,s oh by the way I only have 49 year,s in this industry and now drive an automatic and have a GPS as well just never let my self reach only 3 brain cell,s you replenish them by working smart,er
Get with the times old man! You are being left in the dust.
Well, the FMCA finally should start to compare IFTA miles and electronic logbook, thus identifying carriers who are tempering ELD. These companies this way increase their revenue and kills compliant businesses, cause they are able to take a cheap loads. If these non compliant players will be eliminated, carriers capacity issue will be solved very quickly.
Sometime, I’m thinking to give up for this cheap market😢
Rates coming down won't do anything if people have lost their jobs
First cut September. If they can push to Nov, they will
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Besides, trucking industry in Alaska booming now! “A chronic driver shortage has boosted pay, with full-time truck drivers in Alaska able to earn up to $175,000 annually.”
I totally understand eggs we're we live is almost 5 dollars a cartoon! Ugh this sucks for sure
Your cheekbones are gorgeous 😁😊
Thank you 😄
Make the best informed decisions you can and use apps to find the cheapest fuel along your route! Stop giving your money away to the mega truck stops. Oh and don’t forget to pray 🙏. God bless.
Your good news about the fed lowering interest rate is not up to date. As of the end of last week the fed chairman said rates would not be lowered any time soon, and the stock market nose dived. Don't know where you're getting your economic news. CNBC??
Actually they are having a meeting this coming Wednesday.
My ice cream loads have been paying over $3 per mile OTR. Try n find a niche, that'll help out definitely. Good luck to all!. Please don't use dispatch services, learn to book your own loads folks.
I completely agree. Stay away from Dispatch services. Waste of money!
I don't know how we would be staying a float if anymore money was going out. 🫠 I never knew how much trucking companies where fee'd to death before we started. It's a pain to find a load sometimes but worth not having to pay someone else.
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We are sorry you are facing so many challenges 😢 and hope our thoughts and comments offer you support. 🤗
If you lived where I live, Charlotte, NC, none of your doom and gloom economic data holds water. Construction is at an all time high, many cars in traffic have 30-day tags on them, the malls are packed on the weekend and jobs are going begging! Where is all this bad economy stuff happening? Not here! I have heard how people are maxing out credit cards, etc., Well, they must be getting more because spending shows no signs of slowing here??!!
The trucking side is for sure I'm 20 mins from Charlotte. But u exactly right about the construction jobs , paper tags. And malls n restaurant pke out. That's the God heavenly true but trucking side we catching it.
@@jamarjohnson1595 Hey Jamar! You are right! We are catching it in trucking! Many LTL's are working short days and no one's hiring that's worth a damn! Take care and be safe!!
The crazy GDP is from all the government spending
It’s actually because rates are so high the gov is putting over a trillion dollars in interest payments to anyone with a savings account, most of it goes to the wealthy which is why regular people are struggling under high rates, they have no savings.
Eggs and food don’t have taxes.
Nothing will change until we have a new President, which will be in November. No policy changes until January 20 2025
From an outsiders opinion, and I say this before watching the whole video, the upcoming elections and the 2 probable candidates don't inspire any let up in the loop America is currently going through, shoot me if I am wrong, but that is my honest opinion.
You look beautiful like ❤
These loads are god awful
❤💪🏿🙏🏿🍷
Senate plans to provide Tax support of 10k to first home buyers. It’ll stimulate RE further. Take it easy relief is coming. And please stop worrying about 1 truck authorities, they have no influence on market with their 12% of market share and half of them can’t even operate properly
😂
omg , what a cuttie 🥧
Why your all videos negative about market?
Because the market is a negative place at the moment.
Your eggs and pork are going to double in price because California voted for stricter growing conditions.
We are experiencing the façade firsthand. We are told the stock market this and the stock market that. Both parties are guilty of this, stock market goes up and they pat themselves on the back. The reality is the stock market is an indicator of how THE RICH are doing, not your average joe. For example, i can say me and Elon Musk together have an average net worth of 120 billion. Technically it's true, but he has the bulk of it and I have peanuts. We are in a K recovery, where the rich recover and get richer and we get screwed. What we are seeing in trickle down economics in action. People like to say "Bidenomics" but this has been happening since at least the 80s, under both corporate owned parties. It only accelerated post pandemic.
Almost every industry is a monopoly in the u.s, most of the inflation was corporate greed due to monopolistic power over markets. The u.s. is officially an oligarchy heading towards fascism if trump gets in. Elites will always turn to fascism before paying workers, the u.s. is done for.
Sell your trucks and buy small cap AI crypto, trust me 😂
Forgot to mention that 2023 was absolutely great since Manufacturing investment reached historic high beating maximum of early 1980 before it all was moved to China. Project AUKUS really in process.
It will keep getting worse😂😂😂 and this will last for a long time yet😅
Bidenemic they said , we still in a good shape. Mean while i cover my mouth 🤭🤭🤭. Mainsteam media yeah you are right 😂.
MSM is bought and paid for
How old are you
old
@@TruckingMadeSuccessful ❤️
Where are you from
She’s from the Ukraine and her beauty is ageless!
@@richcherwalk6349 relax tiger
It's Obama's 3rd term
The economy is already in a recession!!!!!
Thanks for the updates and your hard work for doing this. Thanks Miranda from a old hand of the road. Been out here since 1979, so I like your updates, again thanks