Trucking Jobs Increase a Notch for August 2022

The trucking industry continues to roll on, with more drivers on the road than ever. The Bureau of Labor Statistics has posted updates.

August 2022 Employment Numbers

• The first preliminary numbers for August 2022 pins the count at 1,595,500.
• July 2022’s second preliminary pegs the number at 1,594,700. This is a decrease of 300 from before, but August has increased by more than enough to create a net gain for the month.
• June 2022 is 1,590,700. This is a light decrease from the last estimate of 1,591,500 but higher than the first estimate at 1,589,500.

Additionally, the number of production employees from June to July has increased by around 10,500. As this is significantly higher than the total gain for that month’s transition, the trucking industry is becoming more efficient by getting more done with fewer managers.

Other Industry Changes

As an aside, truckers wages and quality of life are rising with the increase in workers. The Bureau of Labor Statistics is a little slower to update average hourly earnings and hours per week worked, but their most recent numbers show an increase of fifteen cents per hour and a decrease of twelve minutes per week in going from June to July, at an average of $29.21 each hour and 41.3 hours each week.

Conclusion

While the trucking industry continues to break records with its number of workers, this is the smallest increase yet. We have reason to believe that September’s numbers will be better, not worse, as the holiday season starts to ramp up and people start making purchases in preparation for the upcoming holiday season.

Chances are, though, if you have partaken in the recent hiring spree the trucking industry has undergone, you are in need of either trucks or trailers for your new hire to get on the road and start making money. That is where TopMark Funding can help utilize its network to get you the best funding deal for your particular credit scenario. Interested in getting a new or new-to-you piece of business equipment? Read on below for more information.

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