Another month, another round of statistics from the Bureau of Labor Statistics (BLS). Unfortunately, with all the news going on in the trucking industry, we accidentally skipped March 2022’s job count update. This article will cover both months.
March 2022 Numbers
Here is a brief summary of what happened in March’s update:
- March 2022 data says 1,550,800 jobs.
- Comparing initial estimates to initial estimates, March saw a gain of 1,700 jobs.
- Comparing February’s revised numbers to March’s estimates, March saw a decrease of 4,900 jobs.
- Based on preliminary numbers, production and nonsupervisory employees (which is always one month behind) saw a jump of almost 10,000 in February, which signifies a reversal in the trend from before.
April 2022 Numbers
- April 2022 posts 1,564,100 employees.
- March 2022 is revised to 1,551,100. This is a revision 300 employees greater than before.
- February 2022 says 1,556,700. This is an increase of 1,000 from the previous estimate and 7,600 more than initially.
It is safe to say based on numbers recently coming out of the BLS that the initial preliminary numbers tend to be a conservative estimate, meaning that the current employment in the trucking industry may well be over 1,564,100.
The trucking industry is going strong. In a time where the economy is shrinking slightly, the trucking industry continues to grow, both in normal drivers and auxiliary jobs such as accountants, dispatchers, and managers.
Trucking is a cornerstone of our economy. As long as larger numbers of objects need to be moved from Point A to Point B, there will be a need for truckers. It is not a surprise that such an integral part of the nation continues to grow despite other sectors and industries facing hardships.
If anything, the industry may be growing too fast for its own good. With supply chain shortages still going on, fleets that are hiring are having a hard time finding trucks to put their new employees in. Fortunately for you, TopMark Funding can help by leveraging our network of funding partners. Read on below for more information!
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