are we in a trucking recession?
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The answer: probably not. “The freight industry is currently experiencing a recession, which began in October 2018,” writes Aaron Terrazas, Convoy director of economic research, in a report published Thursday.
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It's probably a worthwhile trade. On the freeway, I'm reasonably confident that driving ten miles per hour under the speed limit wouldn't be a problem. With multiple lanes, other drivers can easily pass you. Also, in Washington our 70 mph freeway zones have a posted 60 mph speed for trucks.
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In economics, a recession is a business cycle contraction when there is a general decline in economic activity. Recessions generally occur when there is a widespread drop in spending (an adverse demand shock).
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Federal Reserve Chair Jerome Powell at the start of the year said he doesn't think a recession will hit in 2019, but he is concerned about slowing global growth in places such as China and Europe. ... Every US recession for the past 60 years was preceded by an inverted yield curve.
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Truck traffic at the George Washington Bridge was 3.68 million in 2017, down from 4.35 million in 2007.
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Truck driving is a great semi-retirement job for those who want to delay social security a little longer while still having a reason to get up in the morning. ... Truck driving is a good job to consider after retiring from another job because it keeps a person active in many ways.
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A recession is a period of economic contraction, where businesses see less demand and begin to lose money. To cut costs and stem losses, companies begin laying off workers, generating higher levels of unemployment.
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Fortunately, most truckers' daily operations should continue because the FMCSA, a government agency, is still operating. ... It's unclear how long the government shutdown will continue, but the longer it goes, the more likely it is to affect truck drivers and their families.
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LTL tonnage is down not only because of a drop in shipments, but a drop in weight per shipment as truckload freight returns to the lower-priced truckload market. ... LTL carriers also won and kept contract rate increases last year.
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More than 3.5 million people work as truck drivers, an occupation dominated by men who hold more than 90% of truck driving jobs. Driving large tractor-trailers or delivery trucks is one of the largest occupations in the United States.
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That means not recession and depression. The study says India's absolute GDP is likely to struggle to even come back to the 2019-20 level by 2023-24, which is the last year of this government's current term. This is the same thing Kumar has said.
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The Canadian trucking industry is facing a shortage of long-haul drivers to the tune of 48,000 by 2024, meaning those seeking Canada immigration have an excellent opportunity. ... Typically, a long-haul trucker might spend up to 14 days at a time on the road, working 12-hour shifts, with three days off in between.
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Inflation is not the main cause of recessions. Usually, recessions are caused by factors such as high-interest rates, fall in confidence, fall in bank lending and decline in investment. However, it is possible that cost-push inflation can contribute to a recession, especially if inflation is above nominal wage growth.
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However, economists suggest that as the U.S. unemployment rate gets below 5%, the economy is very close to or at full capacity. So at 3.5% one could argue the level of unemployment is too low, and the U.S. economy is becoming inefficient.
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The CB radio is not completely dead. In fact, a lot of truck drivers still use the CB radio, because that is what they have been using for 5, 10, or even 20+ years. ... Several truck drivers now find themselves using trucking apps on their smartphones to communicate, like Next Trucking, for example.
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As far as driving the truck goes, U-Haul trucks are automatic, so no worries about a manual transmission. However, be aware that it takes longer to brake in a heavy, big vehicle, and wider turns will be necessary.
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As of April 2019, when the unemployment rate dropped to 3.6 percent, the 3-month moving average of the unemployment rate was at its lowest rate of the previous 12 months—in other words, the Sahm indicator was 0.00. This suggests there is essentially no chance the U.S. economy is currently in a recession.