Trucking Jobs Increase Yet Again in July 2022

Loyal readers of the blog may have noticed a not-so-subtle pattern of job numbers within the trucking industry. Since March of this year, the trucking industry has been consistently hiring, adding more jobs each month than the one prior. The Bureau of Labor Statistics has the numbers.

July 2022 Numbers

• The BLS pins the first preliminary number for July 2022 at 1,595,000.
• The second preliminary estimate for June 2022 is 1,591,500, an increase of 2,000 jobs from the previous estimate.
• Finally, the official number for May 2022 is pinned at 1,584,600. This is a decrease from the prior estimate of 1,585,200, but is higher than the initial estimate of 1,581,300, and maintains the pattern of growth.

Numbers are fun to look at, but what does this mean for the trucking industry? It means that the industry has hit another all-time high for the number of employees, making this the sixth time this year it has happened.

Also worth noting is that for July 2022 the number of nonsupervisory employees increased by 14,500, which is a larger amount than the increase in total employees. The trucking industry is becoming less vertical as middlemen are cut out and fleets operate more efficiently for each driver.

Unfortunately, the increase for the month was not large enough to reach our initial prediction of 1,600,000 employees by July 2022. With the employment numbers continuing to climb, however, it is only a matter of time before it hits that milestone. We would like to make the prediction of August 2022, and keep our fingers crossed that the industry will make it!

Conclusion

With all of these new hires, especially the sharp increase of production employees, there is a need for trucks and trailers in which to put the trained bodies to drive and earn money. If this sounds like your predicament, TopMark Funding can help by leveraging our network of funding firms to get you the best terms for your credit scenario. Read on below for more information.

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Fill out the contact form or give us a call at (866) 627-6644. One of our truck financing specialists will contact you as soon as possible to go over your truck lease needs and learn more about you and your business financing goals.