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 – The rising diesel prices are now trucking’s top concern.
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 October 26, 2022, Weekly Report below.
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Numbers at a Glance
|WOW: ■ Flat|
|Spot Rates by Segment|
|WoW: Dry Van ▼ Down 3¢ per Mile|
|WoW: Refrigerated ▲ Up 1¢ per Mile|
|WoW: Flatbed ▼ Down 6¢ per Mile|
|Load Posting Volume|
|WOW: ▲ Up 3%|
|Load Volume by Segment|
|WoW: Dry Van ▼ Down 1%|
|WoW: Refrigerated ▼ Down 6%|
|WoW: Flatbed ▲ Up 9%|
|WOW: ▲ Up 4%|
|Truck Driver Searches|
|WOW: ▲ Up 4%|
|MoM: ▲ Up 1%|
|YoY: ▼ Down 30%|
|Clicks on Truck Driver Postings|
|WOW: ▼ Down 7%|
|MoM: ▼ Down 12%|
|YoY: ▼ Down 25%|
October 26, 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 October 26, 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 – October 26, 2022
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 report or any of our other videos. Now let’s get to this week’s report.
THIS WEEK IN JOB BOARD SEARCHES AND CLICKS
Searches were up 4% WoW and 1% MoM, but saw a decrease of 30% YoY. For clicks it was all red. We saw declines of 7% WoW, 12% MoM, and 25% YoY.
THIS WEEK IN FREIGHT
Load postings increased by 3% WoW. That comes in 47% below the same week in 2021 and 3% below the five-year average. Dry van postings decreased by 1%, refrigerated fell by 6%, and flatbed load volume increased by 9% WoW. Truck availability increased by 4% WoW as the ratio of loads to trucks fell to its lowest level since May of 2020.
Overall spot rates were virtually unchanged. Dry van rates fell by 3¢, as refrigerated inched up by 1¢, and flatbed rates fell by 6¢ per mile WoW.
STORY OF THE WEEK
Diesel prices are now trucking’s #1 concern. According to the American Transportation Research Institute’s (ATRI) 18th annual Top Industry Issues report. After holding the top spot for five consecutive years, the driver shortage fell to the number 2 spot on the list.
This year’s report is the first time fuel prices have made the top 10 list in nine years. It last appeared at the number 8 spot in 2013’s report. The 2022 report boasts the largest response ever.
Cargo Transporters President and CEO, Dennis Dellinger, is unsurprised fuel prices have topped this year’s list saying, “From 2020 to 2021, we saw about a 15% increase (in fuel costs), and from 2021 to 2022 around a 63% increase …”.
While fuel prices claimed the top spot for overall concern in this year’s report, it’s not the only thing the industry is concerned about. Other top responses included the driver shortage, speed limiters and truck parking, lawsuits and the rising cost of insurance, and the economy.
That does it for this week’s report. You can get a PDF copy of everything we went over in today’s report down in the description on YouTube or in the main body of the page if you’re over on our Randall Reilly site. We look forward to you joining us back here next week when we’ll take another look back to help you move forward. Until then, have a great week everybody.