You may notice things look a little different this week. Due to the crazy weather, this week we were unable to produce our normal video and audio versions of the report. For those of you who don’t know, Randall-Reilly is located in Tuscaloosa, Alabama. This part of the country doesn’t normally see too much snow or ice. Long story short, on Tuesday we got snow and ice.
So, unfortunately, with weather and travel conditions keeping us in place for the time being, this week’s report will be an all-written edition. But, not to worry we still have our normal downloadable PDF and our new numbers at a glance section. Barring any unforeseen circumstances, we will be back to our normal report format next week. For this week’s report, read on!
Numbers At A Glance – February 17, 2021
Truck Driver Searches
|WoW: Δ Up 14%|
|MoM: ∇ Down 3%|
|YoY: Δ Up 49%|
|WoW: Δ Up 4%
Coming off an all-time high this sets another weekly record!
|WoW: Nearly Flat Δ Up .3%|
Clicks on Truck Driver Postings
|WoW: Δ Up 11%|
|MoM: ∇ Down 4%|
|YoY: ∇ Down 43%|
Load Posting by Segment
|WoW: Dry Van Δ Up 11%|
|WoW: Refrigerated Δ Up 12%|
|Wow: Flatbed ∇ Down 1%
Though down WoW flatbed remains near all-time high set two weeks ago.
|WoW: Δ Up 2¢ per mile
Rates are up 35% compared to the same week in 2020.
|Largest WoW Change – Refrigerated:
Δ Up 14¢
Check out the Data for Yourself
Want to go over all of the trucking industry data yourself? No problem! All of the information covered in this week’s report is available for your convenience in PDF form below.
Weekly Report – February 17, 2021
Although we were unable to film our normal video version of the report this week, we’ll be back at it next week so don’t forget to check-in for the full video and audio versions. Until then here is the full rundown on all the latest numbers.
This Week in Job Board Searches and Clicks
Truck driver searches were up 14% WoW, down 3% MoM, and up 49% YoY. On the clicks side of the equation we saw an increase of 11% WoW, while numbers dropped 4% MoM and 43% YoY.
Last week was a busy week as job boards saw double-digit increases to both search and click volume. Owner-operator and student/inexperienced driver postings saw the largest proportional increases in both search and click traffic. This would seem to suggest that more drivers were looking for new jobs last week than in the previous few weeks.
This Week in Freight
Coming off an all-time high, the load volume in the Truckstop.com system increased another 4% setting yet another weekly record. By segment load postings increased 11% WoW for dry van and 12% for refrigerated, while volume dipped slightly for flatbed, dropping 1% WoW. It is worth noting that while flatbed postings did decrease, the numbers are still close to the all-time high set two weeks ago.
Overall, truck postings were nearly unchanged rising by only .3%. The ratio of loads to trucks in the Truckstop.com system did, however, rise to its highest level ever. Spot rates increased around 2 cents per mile. These rates are up 35% from the same week in 2020. The largest change WoW was with refrigerated as it in increased by 14¢.
Story of the Week
For our story of the week we want to touch on autonomous trucks. As the self-driving trucks continue to make progress and inch closer to real-world application, many in the industry aren’t really sure what to make of them. We thought it would be a good time take a look at some of the benefits they could bring. Although it will likely be many more years before fully autonomous trucks are running full routes, we will begin to see more autonomous trucks running “middle miles” from on-ramp to off-ramps later this year.
Overall autonomous trucks will bring some big changes with them. What changes you may ask?
- Safety – Most accidents on the road come down to human error. When you remove the human from the equation…the possibility of error drops and safety goes up.
- Fewer Emissions – The new “self-driving” or autonomous trucks will be among the greenest and cleanest diesel trucks on the road.
- More Local Jobs – An unexpected benefit these new trucks could bring is there could be an increase in the number of jobs hauling trailers from shippers to drop lots and from drop lots to the consignees.
- This means drivers will be able to be home every day.
- Overall driver turnover will likely be much lower for these new jobs.
- Local jobs with regular schedules will increase interest for those who would not have considered a driving job otherwise.
- Faster Long-Haul Service – Goods will be delivered faster with less spoilage.
- Improved Revenue/Utilization – Revenue per truck could stand to increase by as much as 3x!
And that’s just the tip of the iceberg. For a more complete and in-depth breakdown you can refer to this article over on CCJ. That does it for this week’s report. Once again we apologize for the lack of the normal audio and video versions we have for you, but we look forward to getting back on track for the next Weekly Report. See you then!