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 – Women in Transportation on the Rise!
Digging Deeper Season Finale AND Q&A Now Available!
As a special treat for our season 2 finale we are releasing the full webinar version of the episode featuring an intro and the normally exclusive Q&A panel session. Enjoy!
Click the Image to Watch the Full Season Finale with Q&A
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 17, 2022, Weekly Report below.
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Numbers at a Glance
|WOW: ▼ Down 5¢ per Mile|
|Spot Rates by Segment|
|WoW: Dry Van ▼ Down 4¢ per Mile|
|WoW: Refrigerated ▼ Down 2.5¢ per Mile|
|WoW: Flatbed ▼ Down 8¢ per Mile|
|Load Posting Volume|
|WOW: ▼ Down 9%|
|Load Volume by Segment|
|WoW: Dry Van ▼ Down 12%|
|WoW: Refrigerated ▼ Down 5%|
|WoW: Flatbed ▼ Down 9%|
|WOW: ▲ Up 3%|
|Truck Driver Searches|
|WOW: ▲ Up 3%|
|MoM: ▼ Down 12%|
|YoY: ▼ Down 46%|
|Clicks on Truck Driver Postings|
|WOW: ▲ Up 21%|
|MoM: ▲ Up 11%|
|YoY: ▲ Up 41%|
August 17, 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 17, 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 17, 2022
Hello everyone and welcome to the Weekly Report. For Randall Reilly, I’m Joshua Miller. If you like our videos don’t forget to like, share, and subscribe. New Weekly Reports debut every Wednesday and we have all sorts of other video content premiering each month.
Videos like Digging Deeper. The season finale I mentioned last week is now available in its entirety INCLUDING the normally exclusive Q&A session on both our YouTube channel and over on our Randall Reilly site.
If you’ve never attended a premiere and wondered what it’s all about, check out the episode featuring Dave’s webinar intro, the full episode, and that panel Q&A discussion. The Q&A is normally reserved only for those who register and attend the premiere, but we’ve decided to make the whole thing available to you as a special treat for our Digging Deeper season 2 finale.
Now let’s get to this week’s report.
THIS WEEK IN JOB BOARD SEARCHES AND CLICKS
Searches ticked up by 3% WoW but saw declines of 12% MoM, and 46% YoY. Meanwhile, clicks on driver postings all trended upwards. There were increases of 21% WoW, 11% MoM, and 41% YoY.
THIS WEEK IN FREIGHT
The total load postings fell by 9% WoW, and all three major segments saw posting declines. Dry van postings were down by 12%, refrigerated by 5%, and flatbed declined by 9% WoW.
With those totals, the weekly load postings fell below the comparable five-year average level for the first time since late June of 2020; and postings were down in all regions.
Truck availability saw an increase of 3% as the overall load-to-truck ratio fell to its lowest level since June of 2020.
And finally, the overall spot rates fell by 5¢ per mile WoW and each of the three segments saw declines. Dry van rates were down 4¢, refrigerated dropped by 2.5¢, and flatbed rates decreased by 8¢ per mile WoW.
Over the past six weeks, the flatbed rates have now tumbled by 57¢. And when excluding fuel charges, the overall spot rates are down nearly 20% YoY.
STORY OF THE WEEK
New numbers are out, and it looks like female employment in transportation is on the rise. The Women in Trucking Association released the 2022 WIT index, which uses data obtained from the Bureau of Labor Statistics.
According to the data, the number of women in transportation and warehousing jobs has now increased by more than 12% over the past year, with women making up a little over 27% of all transportation and warehousing employees.
It seems the pandemic caused many women in other industries to shift direction and seek out jobs in the transportation industry. Those working in the service industry found themselves struggling to maintain consistent employment during the pandemic, which led many of the women in those industries to seek out what they considered more stable employment opportunities.
Many of the women now becoming drivers are leaving medical careers behind them. Many look at driving as a way to get away from the stress and a way of starting over after being burnt out over the past few years.
Women are also making up a higher percentage of transportation executives and board members, with 33.8% of transportation C-suite executives being women. This number represents a 1.5% increase since 2019.
In addition to that, 39.6% of company leaders (meaning someone with supervisory responsibilities, including executives) are now women, and 31% of all members serving on boards of directors are you guessed it … women.
That does it for this week’s report. We hope the information has been useful and informative to you. You can download your own PDF copy of everything we covered today available in the description section of YouTube or in the main body of the page on our Randall Reilly page. Come on back and see us next week as we take another look back to help you move forward. Until then, have a great week everybody.