According to reports from the U.S. Labor Department, the trucking industry lost nearly 7,000 jobs in March.
Despite the unemployment rate dropping to 7.6%, the trucking industry had 6,900 employees lose their jobs, compared to a loss of 2,800 jobs lost in the entire transportation industry.
Additionally, according to Bloomberg News, payrolls increased by 88,000, a number that is significantly less than the 190,000 increase predicted. Fortunately, Bloomberg News also predicts that the national unemployment rate will stay relatively steady at 7.7%.
Losing jobs and employees not only usually reflects financial difficulties, but can also continue to place financial burdens on a trucking company. Fortunately, for trucking companies facing financial issues as a result of unpaid bills and trucking fees, the team at TBS Factoring can help. Call 1-800-207-7661 to learn about how we can help you get the money you need when you need it.