While displaying a trend in the right direction, the unemployment numbers for the trucking industry are still much higher than the overall percentages.
According to a recent release, the unemployment rate in the U.S. transportation sector was 5.7% (not seasonally adjusted) in July 2024 according to the Bureau of Labor Statistics (BLS).
As annotated on the the Bureau of Transportation Statistics’ (BTS) Unemployment in Transportation dashboard, in July 2024, the transportation sector unemployment rate rose 0.8 percentage points from 4.9% in July 2023 and was above the pre-pandemic July 2019 level of 4.2%. Unemployment in the transportation sector reached its highest level during the COVID-19 pandemic (15.7%) in May 2020 and July 2020.
Unemployment in the transportation sector was higher than overall unemployment.
BLS reports that the U.S. unemployment rate, not seasonally adjusted, in July 2024 was 4.5% or 1.2 percentage points below the transportation sector rate. Seasonally adjusted, the U.S. unemployment rate in July 2024 was 4.3%.
Seasonally adjusted, employment in the transportation and warehousing sector rose to 6,635,900 in July 2024 — up 0.2% from the previous month and up 0.9% from July 2023. Employment in transportation and warehousing grew 16.7% in July 2024 from the pre-pandemic July 2019 level of 5,687,800. By mode (seasonally adjusted):
- Air transportation fell to 575,500 in July 2024 — down 0.2% from the previous month but up 4.2% from July 2023.
- Truck transportation fell to 1,544,700 in July 2024 — down 0.2% from the previous month and down 1.9% from July 2023.
- Transit and ground passenger transportation fell to 432,100 in July 2024 — down 2.4% from the previous month but up 1.0% from July 2023.
- Rail transportation fell to 151,700 in July 2024 — down 0.1% from the previous month and down 0.9% from July 2023.
- Water transportation remained virtually unchanged in July 2024 at 76,000 from the previous month but up 8.1% from July 2023.
- Pipeline transportation rose to 54,400 in July 2024 — up 0.6% from the previous month and up 5.6% from July 2023.
- Warehousing and storage rose to 1,794,900 in July 2024 — up 0.6% from the previous month but down 0.5% from July 2023.
Bruce Guthrie is an award-winning journalist who has lived in three states including Arkansas, Missouri and Georgia. During his nearly 20-year career, Bruce has served as managing editor and sports editor for numerous publications. He and his wife, Dana, who is also a journalist, are based in Carrollton, Georgia.
