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 FMCSA lowers the 2023 UCR fees by over 30%!
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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 September 7, 2022, Weekly Report below.
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Numbers at a Glance
|WOW: ▲ Up 4¢ per Mile|
|Spot Rates by Segment|
|WoW: Dry Van ▲ Up 5¢ per Mile|
|WoW: Refrigerated ▲ Up 12¢ per Mile|
|WoW: Flatbed ▲ Up 2¢ per Mile|
|Load Posting Volume|
|WOW: ▲ Up 1%|
|Load Volume by Segment|
|WoW: Dry Van ▲ Up <1%|
|WoW: Refrigerated ▲ Up 2.5%|
|WoW: Flatbed ▲ Up 1%|
|WOW: ▼ Down <1%|
|Truck Driver Searches|
|WOW: ▲ Up 1%|
|MoM: ▲ Up 17%|
|YoY: ▼ Down 39%|
|Clicks on Truck Driver Postings|
|WOW: ▼ Down 16%|
|MoM: ▲ Up 2%|
|YoY: ▲ Up 36%|
September 7, 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 September 7, 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 – September 7, 2022
Hello everyone, welcome to the Weekly Report. For Randall Reilly, I’m Joshua Miller. If you like our reports and you haven’t already don’t forget to like, share, and subscribe. Click that little bell while you’re at it so to make sure you never miss out on any of our new video content.
I hope everyone had a great Labor Day weekend and was able to take at least a little time off to spend with family or just relax. But now the holiday is over, and another week is upon us. That means it’s time to get back to it. So, let’s dive into this week’s report.
THIS WEEK IN JOB BOARD SEARCHES AND CLICKS
Truck driver searches were up by 1% WoW and 17% MoM but fell by 39% YoY. For clicks on truck driver postings, we saw a drop of 16% WoW but increases of 2% MoM and 36% YoY.
THIS WEEK IN FREIGHT
Total load postings inched up by 1%. Dry van load postings increased, but not by much, ending up increasing by less than 1% WoW. Refrigerated volume bumped up by 2 ½%, and flatbed came in with a 1% increase.
Overall volume was down nearly 43% compared to the same week in 2021 but remained 2.4% above the 5-year average for the week. Across the country, the load postings rose in all regions except for the Southeast and West Coast.
Truck availability decreased by a little less than 1% as the ratio of loads to trucks edged higher.
Overall spot rates rose by 4¢ per mile WoW for the first WoW gain since mid-July and only the second such increase since week 21. Rates excluding fuel surcharges, however, were still 26% below the same week last year.
Dry van rates increased 5¢ per mile WoW and refrigerated rates jumped by 12¢, as flatbed rates came in with a 2¢ per mile WoW increase, marking the first rate increase for the segment in seven weeks.
STORY OF THE WEEK
The Federal Motor Carrier Safety Administration is reducing the Unified Carrier Registration fees collected by states by over 30%. The FMCSA announced the price reduction as a part of the UCR Plan.
States collect these fees from motor carriers, brokers, freight forwarders, and leasing companies. The fees charged to a company are based on the number of vehicles owned and operated. The new fee structure is a 31% decrease across ALL fee brackets. This means depending on the size of the fleet, the savings could be anywhere from $18 to over $17,000!
The new fees are for the 2023 registration year and beyond and are to take effect immediately. Participating states will begin collecting 2023 UCR fees on October 1st. The adjustments in fee structure were approved as revenues collected from the previous year exceeded the maximum annual revenue of $107.78 million. As a rule, any fees collected over this maximum are to be held and applied to future registration years.
That does it for this week’s report. We hope the information has been useful and informative to you. A free downloadable PDF covering all the information we hit in today’s report is available in the description under the video on YouTube and in the main body of the page if you’re watching over on our Randall Reilly site. 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.