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Oct 10 - Recession SLAMS Truck Industry--4,200 truck drivers lost their jobs in September


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 1 month ago '05        #1
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phantomnation  topics gone triple plat - Number 1 spot x7
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Oct 10 - Recession SLAMS Truck Industry--4,200 truck drivers lost their jobs in September
 

 
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"My business is finished, because the cost of freight has dropped to an all-time low," Stayner told Business Insider. "It's sad what I sacrificed every day, every week, every holiday — gone from my family."

Trucking has been in a recession since the first half of 2019, according to ACT Research. That fact doesn't surprise truck drivers, dozens of whom have told Business Insider that their earnings have slashed this year.


Read more: 'I don't know how long I can stay in business': Truckers' fears have soared to recession-level highs


While freight volumes have ticked up in July and August, indicators that a recession is still gripping America's $800 billion trucking market. The federal government's monthly job report said on October 4 that trucking companies slashed 4,200 payrolls. Manufacturing, which tracks the trucking industry, cut 4,000 jobs.

The job report was otherwise mixed, and transportation as a whole added 15,700 jobs.

The September report also clarified that 5,100 trucking payrolls were slashed in August, up from 4,500 previously reported from preliminary numbers.
In the first half of 2019, around 640 trucking companies went bankrupt, according to industry data from Broughton Capital LLC. That's more than triple the amount of bankruptcies from the same period last year — 175.

The recession in trucking has especially affected small carriers, who operate largely on the spot market. Trucking loads can either be picked up on demand through the spot market, or through a pre-arranged contract. The contract market comprises the vast majority of the trucking market, according to the American Trucking a*sociations.

Spot market rates have crashed in 2019, while contract market rates haven't seen the same dip.

According to the most recent Chainanalytics-Cowen Freight Indices report, dry van spot rates are down 16.1% from the same period in 2018. Contract rates in dry van are down 8.1%.


Read more: Thousands of truck drivers have lost their jobs this year in the trucking 'bloodbath.' Here's what's behind the slowdown in the $800 billion industry.

Still, major companies along with small business owners like Stayner are getting hit by the trucking downturn.



Roadrunner, the 31st-largest trucker in the US, announced on Monday that it was cutting 10% of its workforce — all of which are in its "unprofitable" dry van sector.

Cold Carriers, a refrigerated trucking company with more than 400 truck drivers, filed for bankruptcy last week; it will continue operations as it restructures its debt obligations. And industry leaders like J.B. Hunt, Knight-Swift, and Schneider all had to slash their annual outlooks this year.

visit this link https://www.businessinsid .. 25WfXOxXYujkqs
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 1 month ago '04        #2
SubConscious 
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I'm sure it'll pick back up, almost everything goes in cycles....
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 1 month ago '17        #3
Harasnart 
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Wait til the autonomous driving trucks arrive. There won’t be truck drivers in 15 years
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 1 month ago '06        #4
ehizzy3 
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 Harasnart said
Wait til the autonomous driving trucks arrive. There won’t be truck drivers in 15 years
#yanggang
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 1 month ago '04        #5
ItAlY2BkLyN 
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"Recession"

OP with more dramatizations
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 1 month ago '06        #6
bigkilla 
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I don’t get it... one place I read that there’s a severe shortage of truckers


Then I read there’s a recession in trucking
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 1 month ago '15        #7
PineappleOG 
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 Harasnart said
Wait til the autonomous driving trucks arrive. There won’t be truck drivers in 15 years
I think everyone and their mama gon start cutting them off, robot ain’t got no feelings right
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 1 month ago '17        #8
LostTenets  topics gone triple plat - Number 1 spot x8
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You got 10 years left of that.truck.driving sh*t.

When Tesla electric trucks.go national, and electric trucks are driving themselves all over the country, there will be 0 truck drivers on the road.

Quit now
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 1 month ago '16        #9
Aztlan 
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Guys either gonna go full blast with the entrepreneur pipe dreams or finally accept that college ain't the scam they made it out to be.
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 1 month ago '18        #10
S-Class 
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 bigkilla said
I don’t get it... one place I read that there’s a severe shortage of truckers


Then I read there’s a recession in trucking
Bruh I was just talking to my homie about this

Like if I don’t like Trump my day is filled with anti Trump rhetoric,if I support Trump I hear and read about how good of president he is

Like you really don’t know wtf is what anymore ,you don’t who’s funding these stories ,who’s trying manipulating what etc
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 1 month ago '15        #11
MemphisBleek 
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 bigkilla said
I don’t get it... one place I read that there’s a severe shortage of truckers


Then I read there’s a recession in trucking

I ride pass a billboard everyday that says $10,000 sign on bonus. I’m not a trucker , but I’m always like damn that’s a lot for a sign on bonus. I don’t think that’s normal.

People so thirsty for a recession like recessions don’t hit blacks the hardest.

Dumb a*s n*ggas .
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 1 month ago '11        #12
Pakchoy 
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 Harasnart said
Wait til the autonomous driving trucks arrive. There won’t be truck drivers in 15 years
 LostTenets said

You got 10 years left of that.truck.driving sh*t.

When Tesla electric trucks.go national, and electric trucks are driving themselves all over the country, there will be 0 truck drivers on the road.

Quit now
I drive OTR right now and honestly im not worried about Tesla. I don't think i would trust a truck pulling 49k pnds of hazmat down a highway without a driver. Next wave of terrorism could be hacking these trucks..
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 1 month ago '17        #13
arms 
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 Aztlan said
Guys either gonna go full blast with the entrepreneur pipe dreams or finally accept that college ain't the scam they made it out to be.
Just because trucking is being automated out of existence doesn't mean college isn't a scam.
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 1 month ago '16        #14
Aztlan 
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 arms said
Just because trucking is being automated out of existence doesn't mean college isn't a scam.
Don't start.

Scams don't exist as public institutions for hundreds of years and make up the foundation of our professional labor force.

Education is literally our best path forward.
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 1 month ago '16        #15
Aztlan 
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 bigkilla said
I don’t get it... one place I read that there’s a severe shortage of truckers


Then I read there’s a recession in trucking
I'm sure there are places with shortages.

But these are national numbers.

So some companies are doing well and need more drivers, while others simply can't compete anymore.

It all depends on location and the quality of their contracts. That's my guess.
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 1 month ago '15        #16
drose1985 
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 LostTenets said

You got 10 years left of that.truck.driving sh*t.

When Tesla electric trucks.go national, and electric trucks are driving themselves all over the country, there will be 0 truck drivers on the road.

Quit now
This/thread. Mfs got machines that can lay bricks build a house in three days lol
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 1 month ago '17        #17
Harasnart 
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 Pakchoy said
I drive OTR right now and honestly im not worried about Tesla. I don't think i would trust a truck pulling 49k pnds of hazmat down a highway without a driver. Next wave of terrorism could be hacking these trucks..
You do know companies have already been using automated trucks right?

I trust machines 10000 times over drivers like you. No disrespect, but people are useless. Lazy fu*ks who just want to do nothing. Machines just work, don’t complain, no breaks, no sick time, no vacation. People are fu*king useless.

I would trust any autonomous truck over you.
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Top 10 most slapped recently  1 month ago '17        #18
Johnnytusanmi  topics gone triple plat - Number 1 spot x1
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 S-Class said
Bruh I was just talking to my homie about this

Like if I don’t like Trump my day is filled with anti Trump rhetoric,if I support Trump I hear and read about how good of president he is

Like you really don’t know wtf is what anymore ,you don’t who’s funding these stories ,who’s trying manipulating what etc
My last job we couldn't keep a driver and everyone else needed one too desperately. This story seems like bullsh*t.
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 1 month ago '18        #19
Shupys 
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 Harasnart said
You do know companies have already been using automated trucks right?

I trust machines 10000 times over drivers like you. No disrespect, but people are useless. Lazy fu*ks who just want to do nothing. Machines just work, don’t complain, no breaks, no sick time, no vacation. People are fu*king useless.

I would trust any autonomous truck over you.
You do understand the danger on how one of these huge trucks could have a glitch right?Yes drivers get in accidents but this self driven machine could easily mess up or maybe worst
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 1 month ago '08        #20
Lot17 
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This is affecting dry vans, that why I switched from just doing dry van to getting my hazmat my twic doubles and trips and tankers w/10 spd 13spd and 18spd exp and now I'm working in a oilfield with plenty of work.

Automation is only going to replace long haul drivers, you arent gonna have a auto truck do a 90 alley dock in the middle of downtown Manhattan with traffic moving lol. Sure you can replace the guy who sits driving for 11 hours a day but you arent gonna take the local guys who's job who's constantly getting out and working on top of driving. Or even oversize loads like windmill blades that have to literally do unorthodox methods of driving like shooting out and cutting 3 lanes of traffic just to exit the freeway. Theres more to truck driving than just being a steering wheel holder

Btw college is a scam


Last edited by Lot17; 10-10-2019 at 09:26 PM..
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 1 month ago '18        #21
jakerich 
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You ever seen Tesla test those autonomous trucks in major cities like LA,Houston,Atlanta? Know why? Because the traffic on the highway is to bad. There isn’t a machine that can navigate a 80,000 pound truck during rush hour in a major city. Even a autonomous truck will need a driver for rush hour,bad weather etc.

What happens when a tire blows?

What happens when a autonomous truck hits another car? Who is at fault? Tesla? The company that bought the truck?

Also the federal government has to allow the truck to pass through each state which is why you only see Tesla testing in certain states that allow them.

I’m excited for autonomous trucks it’ll revolutionize the industry which is great. But if you honestly think the government will allow a truck to cross the country without a driver in it you trippin. Drivers will still be able to earn a living.
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 1 month ago '17        #22
Rule 336  topics gone triple plat - Number 1 spot x1
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 Harasnart said
Wait til the autonomous driving trucks arrive. There won’t be truck drivers in 15 years
They said this 10 years ago. If you aren't in the industry please don't speak on it. Y'all read magazine headlines then come to bx and pass them as truth
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 1 month ago '17        #23
Harasnart 
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 jakerich said
You ever seen Tesla test those autonomous trucks in major cities like LA,Houston,Atlanta? Know why? Because the traffic on the highway is to bad. There isn’t a machine that can navigate a 80,000 pound truck during rush hour in a major city. Even a autonomous truck will need a driver for rush hour,bad weather etc.

What happens when a tire blows?

What happens when a autonomous truck hits another car? Who is at fault? Tesla? The company that bought the truck?

Also the federal government has to allow the truck to pass through each state which is why you only see Tesla testing in certain states that allow them.

I’m excited for autonomous trucks it’ll revolutionize the industry which is great. But if you honestly think the government will allow a truck to cross the country without a driver in it you trippin. Drivers will still be able to earn a living.
What happens when the tire blows now? They get it replaced like right now. How often does a tire pop?

What happens when the thousands of accidents that happen everyday? Who is at fault? The companies just like right now. No different

How are you guys so fu*king dumb? This is why we need autonomous trucks... people like you are fu*king dumb
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 1 month ago '08        #24
606robin 
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Folks in Texas ain’t having these problems. You should be using your CDL for Waste or dump trailers. You won’t be unemployed for the next 20 years
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 1 month ago '05        #25
Micheal C. Will 
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This is the BX go to instead of getting a college degree, what's really good with trucking industry Boxden?
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