LOGISTICS MARKETS COOLING

Logistics companies, such as C.H. Robinson Worldwide Inc., have recently laid off countless workers, as there is a slower demand for freight transportation. The layoffs “come amid signs of slowdown in consumer spending and other activity after the U.S. Federal Reserve raised interest rates to combat inflation. CNBC reported last month of big declines in warehouse shipments and ocean freight orders.”  Read more

NORTH AMERICAN TRUCK DRIVERS STILL IN HIGH DEMAND

With a shortage of drivers “impacting the ability to get goods, merchandise and other items shipped around the country,” the American Trucking Association believes the country needs at least another 80,000 more drivers on the road. On the bright side, requests to enroll in trucking schools have increased due to the desire of applicants to have a guaranteed job if a recession hits. Read more..