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Weekly Driver Recruiting Report – May 18, 2022

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 – Federal Reserve interest rate hikes could help drive used equipment costs down.

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 – Some fleets are adopting multi-cam tech to help protect drivers and prevent accidents.

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“TikTok, Boomers, Zoomers, and You”

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 May 18, 2022, Weekly Report below.

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Numbers at a Glance

Spot Rates
WOW: Down 2¢ per Mile
Spot Rates by Segment
WoW: Dry Van Down 3¢ per Mile
WoW: Refrigerated Down 11¢ per Mile
WoW: Flatbed Down 1/2¢ per Mile
Load Posting Volume
WOW: Down 7%
Load Volume by Segment
WoW: Dry Van Down 11%
WoW: Refrigerated Down 15%
WoW: Flatbed Down 5%
Truck Postings
WOW: Down 10%
Truck Driver Searches
WOW: Down 3%
MoM: Down 10%
YoY: Down 2%
Clicks on Truck Driver Postings
WOW: Up 11%
MoM: Up 35%
YoY: Up 35%

May 18, 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 May 18, 2022, is available for your convenience in PDF form below. Click the image to view and download your copy of the Weekly Trucking Insight.

Trucks Without Cameras Put Drivers at Risk

Weekly Report Transcript – May 18, 2022

Hello everyone and welcome to another edition of the Weekly Report. For Randall Reilly, I’m Joshua Miller. If you like our report don’t forget to like, share, and subscribe so you never miss the Weekly Report or any of our other great driver recruiting content.

Great content like the new Digging Deeper covering TikTok I’ve been telling you about for the past couple of weeks. The episode is now available on our Randall Reilly site and on our YouTube channel. If you haven’t seen that yet check it out. I’ll leave some links for you below and I’ll probably have something around here too.

Now enough about that. Let’s get to this week’s report.

THIS WEEK IN JOB BOARD SEARCHES AND CLICKS

Searches were down all the way around and clicks were all up. First searches. We saw declines of 3% WoW, 10% MoM, and 2% YoY. Clicks saw gains of 11% WoW, and 35% increases for both the MoM and YoY totals.

With all that green for clicks it may not surprise you to find out that click activity rose to the highest level since Week 7, which if you’re keeping score was in late February.

THIS WEEK IN FREIGHT

Total load postings fell by 7% WoW and the totals for all three major segments declined. Dry van load volume was down 11%, refrigerated 15%, and flatbed fell by 5% WoW.

The overall truck availability was also trending down as the availability declined by 10% with the overall load-to-truck ratio increasing just slightly.

Finally, we come to spot rates, which continues this week’s trend of declines. Overall spot rates were down 2¢ per mile WoW, and the rates for all three segments fell as well. Dry van rates were down 3¢, refrigerated was down 11¢, and flatbed rates dropped by ½¢ per mile WoW.

Before moving on remember the CVSA Roadcheck Event is this week. In fact, it started yesterday and will run through tomorrow. This year’s event focuses on wheel ends and with the added scrutiny and inspections we can expect the spot market to be majorly affected. So, don’t be surprised with next week’s rates and volume.

STORY OF THE WEEK

If your fleet’s trucks aren’t utilizing multiple cameras, you could be putting your drivers at risk! Many fleets are starting to adopt multi-camera technology as the data shows that their use can significantly reduce accidents. Dash and backup cameras are great, but there are a growing number of options available for cameras to be mounted in areas to give vision around the entire truck. These extra cameras can be mounted on the front, sides, and back of a tractor trailer.

Right around 40% of all large truck accidents are related to lane changes. Multi-cam technology such left and right blind-spot cameras can help reduce these risks.

In addition to helping drivers travel more safely, the insurance companies are interested in the technology as well. These insurance companies site the aforementioned accident reduction and the ability to reconstruct exactly what happened during an accident as major advantages with the technology.

When involved in an accident, police cite commercial drivers as being the party at fault the majority of the time. However, when the driver is cited as being at fault, they are eventually found to NOT be at fault – are you ready for this an amazing 85% of the time. That means there are a lot of good drivers out there being hampered by a long and drawn-out process for accidents they weren’t even responsible for. Without easily accessible and readily available video evidence, however, there’s really no way of speeding up this time consuming and sometimes costly process.

Drivers may even be suspended until the whole thing is sorted out, which as you can imagine could impact pay and ultimately because of that, your driver retention.

Though these multi-camera systems are gaining traction some fleets find it difficult to adopt as the cameras are mounted to the trailers themselves and most fleets are not matched with the same trailer all the time. That means cables would need to be connected and disconnected regularly when attaching to a new trailer. However, it is worth noting that wireless options are currently being pursued and developed.

That’s it for this week’s report. You can view and download a PDF copy of all the information we covered today down below in the description on YouTube or in the body of the page on our Randall Reilly site. We look forward to you joining us again next week as we take another look back to help you move forward. Until then, have a great week everybody.

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