Trucking Jobs Rebound for March 2023
In our haste to provide reporting on other aspects of the trucking industry, we had skipped over the February 2023 numbers when they first came out. This is of minimal consequence, because if the numbers from March are accurate, it appears as though February’s drop never happened. The Bureau of Labor Statistics (BLS) has the numbers!
March 2023 Numbers
- BLS pins the initial estimate for March 2023 to be 1,612,000 jobs.
- The current estimate, the first revision, for February 2023 has the count at 1,606,300.
- The final numbers for January 2023 say 1,611,400. This is a decrease of 3,300 from the initial publishing.
If these numbers hold through the revision, it means that the trucking industry shed quite a number of jobs (over 5,000) in February before hiring them all back, plus interest. This marks yet another all-time high for the trucking industry in terms of employment.
In other news regarding the trucking industry, drivers are taking home more per hour and working less. According to the BLS, the average was $30.08 per hour and 39.9 hours per week in February, meaning a weekly paycheck of $1,200.19 compared to the 1,208.26 in January (truckers were paid on average $29.76 per hour and worked 40.6 hours per week that month, meaning February lead to a pay cut of eight dollars for forty-two minutes less work time).
Conclusion
The trucking industry has come a long way in terms of hiring since the mass layoffs in March 2020 spurred on by the COVID-19 pandemic, and continues to soar to greater and greater heights. With the addition of various programs to help entice people into becoming truckers, the number is likely to only go even higher in the future.
If you are a company who has hired new blood for their fleet, TopMark Funding can help you by providing funding solutions to obtain assets, such as tractors and trailers, that will enable your team to get on the road and start making some money. Read on below for more information on how we can help your business succeed!
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