Trucking Jobs Stay Well Above Milestone in January 2023

Conventional wisdom would dictate that once the slow season begins after the holidays, the number of trucking jobs would decrease. After all, all of the presents have been shipped, so demand is lower than it would be in December. In reality, this is seldom the case, and 2023 is not an exception to the rule, as January 2023 saw an uptick in the count of workers in the trucking industry.

January 2023 Numbers

• The Bureau of Labor Statistics (BLS) pins the initial estimate for January 2023 to be 1,614,700.
• Updating December’s number, the BLS finds it to be 1,610,600 employees. This is an increase from the first estimate by 9,100.
• November also received an update, with the count set at 1,605,500. This is an increase of 6,100.
• Previous months also received revisions, the BLS now believing the month that the industry crossed the 1,600,000 threshold for the first time to be August 2022.

In additional news, trucker pay saw a slight decrease on average of nineteen cents an hour in December, with twenty-four fewer minutes of work. While this means the average trucker is making less per week (about $1,212 dropping to $1,199), it continues a trend of truckers having a better work-life balance and being able to spend time doing things beyond driving an 80,000 pound truck and trailer combination. The fact that this continuous decrease happened over the holiday season is contrary to expectation, but historical data shows no connection to the holiday season raising or lowering work hours on average.

Conclusion

With this update, the trucking industry has seen four consecutive months of employment growth, as faith in the global supply chain continues to strengthen. We hope it lasts!

If you are hiring drivers for your fleet, chances are you will also need a truck and trailer for them to get to work. TopMark Funding can help by leveraging our network of funders to get you the best situation for your particular credit scenario. Read on below for more information.

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