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Fonterra, O&K face doubled trucking rates as logistics jobs lag demand

Consumer Staples 589 Coronavirus 377 Corp - Ports 775 Corp - Shipping 780 Industrials - Capital Goods 439 Materials - Metals/Mining 616 Mode - Containerized 1230 Mode - Seaborne 1558 Mode - Truck 58 Theme - Employment 48 U.S. 4472

U.S. logistics employment is recovering after the ravages of the COVID-19 pandemic with 174,000 jobs added in August versus May. That only represents a partial recovery of the 379,000 jobs lost in the prior three months. Employment in the trucking, waterborne and rail sectors are particularly weak and have not caught up with the surge in demand for shipping services seen recently. For example truck rates from LA to Chicago have reportedly doubled after imports to Chicago channelled via the port of LA increased by 28.9% in August versus the May trough. Among the largest shippers on the ro...

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