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 – $755 million could be on the way for truck parking and other improvements.
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Numbers at a Glance
|WOW: ▼ Down 10¢ per Mile|
|Spot Rates by Segment|
|WoW: Dry Van ▼ Down 8¢ per Mile|
|WoW: Refrigerated ▼ Down 6¢ per Mile|
|WoW: Flatbed ▼ Down 13¢ per Mile|
|Load Posting Volume|
|WOW: ▼ Down 17%|
|Load Volume by Segment|
|WoW: Dry Van ▼ Down 18%|
|WoW: Refrigerated ▼ Down 10%|
|WoW: Flatbed ▼ Down 20%|
|WOW: ▲ Up 5%|
|Truck Driver Searches|
|WOW: ▼ Down 22%|
|MoM: ▼ Down 27%|
|YoY: ▼ Down 29%|
|Clicks on Truck Driver Postings|
|WOW: ▼ Down 2%|
|MoM: ▲ Up 11%|
|YoY: ▲ Up 11%|
July 27, 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 July 27, 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 – July 27, 2022
Hello everyone, welcome to the Weekly Report. For Randall Reilly, I’m Joshua Miller. If you like our reports don’t forget to like, share, and subscribe so you never miss a new edition. We’ve got a lot to get to today, so let’s jump right in.
THIS WEEK IN JOB BOARD SEARCHES AND CLICKS
More red this week as searches were down 22% WoW, 27% MoM, and 29% YoY. A little more green when it comes to clicks. Clicks were down 2% WoW, but up 11% in both MoM and YoY.
THIS WEEK IN FREIGHT
Total load postings were down 17% WoW and all three segments saw declines. Dry van was down 18%, refrigerated fell 10%, and flatbed postings were down 20% WoW. With all those declines, the total spot volume saw the largest decrease for a non-holiday week since the April 2020 contraction.
Truck availability increased by 5% as the overall load-to-truck ratio fell to its lowest level since June 2020.
The red trend continues with spot rates as the overall rate fell by 10¢ per mile WoW, which happens to bring the total spot rate to the lowest level since mid-December. And again all three major segments saw declines. Dry van rates were down 8¢, refrigerated fell 6¢, and flatbed saw a 13¢ per mile decline.
STORY OF THE WEEK
The first step in a process that would result in $755 million being earmarked for states to fund new truck parking projects has been approved by a House committee. The next step is moving on to approval from the full U.S. House of Representatives.
The House Committee of Transportation and Infrastructure approved an amended version of the Truck Parking Safety Improvement Act through the markup process. If the bill is approved by the House and Senate, the legislation would create a four-year, $755 million competitive grant program for new truck parking projects including things like capacity expansion as well as improvements such as lighting, restrooms, and various other security features.
The ATA President and CEO, Chris Spear, praised the committee’s movement on the bill saying,
“The lack of safe and accessible truck parking is an issue that causes serious concern for our industry” He went on to say, “The availability of safe and secure truck parking is not just a challenge (for) current drivers, it is a barrier our industry must overcome in attracting new drivers – particularly women.”
Access to truck parking has long been an issue of concern for the industry and has been frequently highlighted in the American Transportation Research Institute’s annual list of top issues facing trucking. According to ATRI research, drivers spend around 56 minutes per day looking for parking. In the 2021 ATRI survey, parking was ranked fifth among the top 10 issues for the year.
That does it for this week’s report. We hope the information has been useful and informative to you. As always you can find a downloadable PDF covering everything we’ve gone over today down in the description if you’re watching us on YouTube or down in the body of the post on our Randall Reilly site.
Come on back and see us next week for all the updated stats and a new story of the week. Until then, have a great week everybody.