The freight recession is here as trucking sees a slowdown across the economy.Joe Raedle / Getty Images July data from Motive showed a contraction for US carriers and a 15% year-over-year decline in retail demand. Unemployment for truck drivers could move higher as larger carriers, like Yellow, feel more pain. The freight recession may also signal a "detox" from the artificial demand spikes and gross margins seen in the pandemic.
The Freight Recession Is Getting Worse As The Economy Detoxes From The Pandemic Trucking Boom
prosen@insider.com (Phil Rosen), Business Insider
Wed, 08/09/2023 - 8:24am
Topics: according to motive. joe raedle getty images unemployment wall street chapter amazon's prime day st louis federal reserve covid-19 business insider july worse economy pandemic trucking freight recession demand retail carriers data downturn researchers larger drivers slowdown market year-over-year margins showed detox yellow pain smaller reversion remain trends gross artificial pointing years sector consumer
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