Home Truck News Trucking unemployment rates dropped in Q3: report - Truck News

Trucking unemployment rates dropped in Q3: report – Truck News

Trucking HR Canada’s (THRC) quarterly Labour Market Information snapshot shows unemployment rates have gone down for truck drivers and other staff in the trucking industry.

“The November 2023 report shows employment is rebounding across the supply chain,” says Angela Splinter, CEO of Trucking HR Canada.

“This is good news for all of us, but also means our work is not done. The latest data shows that employment for truck drivers is stabilizing, while volatility for shippers and receivers is growing.”

trucking employment
(Source: Trucking HR Canada)

The trucking and logistics sector filled more jobs in the second and third quarters after total employment fell by 4.3% at the beginning of the year. Almost 40,000 jobs were added between April and June, and nearly 10,000 vacancies have been filled since.

By September 2023, over 761,000 workers were employed in the sector.

However, for employers, this meant decreased application for open positions — 5,700 fewer between March and July.

While the number of job seekers in the industry increased by over 3,000 people between August and September, the unemployment rate stood at 2.3% — far below the national average, THRC says.

shipper and receiver employment
(Source: Trucking HR Canada)

While unemployment rates for truck drivers peaked in April, reaching 6.5%, the numbers began to slowly increase in Q3. They reached almost 350,000 in August, and just over 340,000 in September, when the unemployment rate dropped to 3.4%.

Meanwhile, the unemployment rate among shippers and receivers in the sector reached 4.6% in September, when the number of job seekers surged, with some 5,000 shippers and receivers actively seeking work in the sector.

Credit: Source link


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