The American Trucking Assns. (ATA) remains bullish on freight volume prospects for the industry through 2005, despite the disappointing job growth reported recently by the Dept. of Labor (DOL).
DOL said the economy produced 96,000 nonfarm jobs back in September. According to ATA’s analysis of the agency’s report, this brings the total job growth in 2004 to 1.5-million, while the manufacturing sector shed 18,000 jobs in September.
The trucking industry, however, boosted its payroll, according to ATA’s analysis. In September, the industry added 3,700 jobs -- with for-hire trucking companies adding 38,000 jobs over the last 12 months.
“While we’d like to see better employment numbers, what is most important for our industry is output, which is expected to remain strong well into the next year,” said ATA’s chief economist Bob Costello.