The Weekly Report brings you updated data on recruiting metrics including click, search, and spot rates, plus a new story of the week. This week’s story – Class 8 Truck Order Update.
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Watch Dave count down his top takeaways and take part in an exclusive all-star panel Q&A session.
The online premiere is TOMORROW, THURSDAY, AUGUST 11th @2PM CST.
New episodes of the Weekly Report premiere every Wednesday at 10 AM CT on our YouTube channel and Talent Intelligence Resource page.
We provide the Weekly Report in numerous formats every week. Which one is right for you? Watch the latest reports on our Talent Intelligence Resource page or YouTube channel, use our Numbers at a Glance section for quick visual references, download the Weekly Report PDF (available below), read the transcript, or listen to the audio version of August 10, 2022, Weekly Report below.
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Numbers at a Glance
|WOW: ▼ Down 8¢ per Mile|
|Spot Rates by Segment|
|WoW: Dry Van ▼ Down 1¢ per Mile|
|WoW: Refrigerated ▲ Up 5¢ per Mile|
|WoW: Flatbed ▼ Down 12¢ per Mile|
|Load Posting Volume|
|WOW: ▼ Down 9%|
|Load Volume by Segment|
|WoW: Dry Van ▼ Down 5%|
|WoW: Refrigerated ▼ Down 4%|
|WoW: Flatbed ▼ Down 14%|
|WOW: ▼ Down 6%|
|Truck Driver Searches|
|WOW: ▼ Down 9%|
|MoM: ▼ Down 20%|
|YoY: ▼ Down 46%|
|Clicks on Truck Driver Postings|
|WOW: ▼ Down 9%|
|MoM: ▼ Down 9%|
|YoY: ▲ Up 6%|
August 10, 2022 Driver Recruiting Insights
Would you like to have your own copy of the trucking industry data? All of the information covered in this week’s report for August 10, 2022, is available for your convenience in PDF form below. Click the image to view and download your copy of the Weekly Trucking Insight.
Weekly Report Transcript – August 10, 2022
Hello everyone and welcome to another edition of the Weekly Report. For Randall Reilly, I’m Joshua Miller. We’ve got lots of numbers to get to and a brand-new story of the week, but before we dive in, registration for the season finale of Digging Deeper is open and the episode will debut tomorrow.
For the finale, Dave looks back and highlights some of his top takeaways from this season. Register now to attend by following the links below, in the description section on YouTube, or in the main body of the page on our Randall Reilly site. As always if you attend the online premiere, you will also get to take part in an exclusive webinar Q&A session with Dave and his guests. And the guest panel for this episode is a stacked all-star lineup that you won’t want to miss. So, if you’ve joined us before or if you just have a question, you want our take on, now is the time.
The online episode premiere is tomorrow, Thursday, August 11th, at 2 PM CST. The episode itself will be made available a little later on, but that Q&A session is ONLY for those that register and attend the premiere. Hope to see you there. All right, now on to the report!
THIS WEEK IN JOB BOARD SEARCHES AND CLICKS
A lot of red this week, as searches were down by 9% WoW, 20% MoM, and 46% YoY. For clicks, we saw 9% declines WoW and MoM, but a 6% increase YoY.
THIS WEEK IN FREIGHT
Total load postings fell by 9% WoW and all three segments declined. Dry van volume was down 5%, refrigerated fell by 4%, and flatbed volume tumbled by 14% WoW. Those totals now represent the lowest totals of 2022 so far. The posting volume by region fell almost universally with the exception of the Mountain Central region, which also happens to be the smallest of all regions by volume.
Truck availability declined by 6% WoW as the overall load-to-truck ratio hit its lowest level since June of 2020.
Spot rates were down by 8¢ per mile WoW, with dry van rates declining by 1¢ and flatbed falling 12¢, but refrigerated rates increased by 5¢ per mile WoW.
Flatbed rates have now fallen by 49¢ over the past five weeks.
STORY OF THE WEEK
Class 8 vehicle demand remains strong, but the supply of new vehicles available remains constrained. Supply chain struggles and material shortages have plagued the industry since the onset of the pandemic, and it could continue that way for a while longer.
In 2022, dealers and fleets were placed on allocations and received a portion – but rarely if ever all – of the vehicles they placed orders for. These allocations were started with the goal of giving fair and balanced access to new trucks so that dealers could plan accordingly when dealing with customers.
And while most OEMs are currently accepting orders for next year, truck makers will likely be forced to continue limiting the number of new truck orders they can accept.
That does it for this week’s report. We hope this information has been useful and informative to you. You can find a downloadable PDF with all the information we covered in today’s report available for download below.
Don’t forget about the Digging Deeper season finale and all-star panel Q&A discussion, again that premieres tomorrow, Thursday, August 11th at 2 PM CST. Should be a lot of fun so we hope to see you there. Come on back and see us next week when we take another look back to help you move forward. Until then, have a great week everybody.