September's initial report of a loss of 3,600 jobs was adjusted to reflect the actual gain of 1,800 total jobs by the Department of Labor in October. Growth continued last month with 3,000 trucking jobs added. October's gains mark a four-month growth streak for the industry, which is expected to continue through the end of 2016. Check out their website at Driver Armellini
Trade, transportation and utility industries saw an increase of 15,000 jobs overall in October. Logistics companies also showed growth, adding 7,500 jobs. Warehousing and courier companies added 3,300 jobs to deal with seasonal delivery demand. Warehousing and storage jobs also swelled by 5,100.
Retail experienced a loss of 1,100 jobs last month, though some subsectors experienced noteworthy growth. Car dealers and parts retailers gained 5,200 jobs, along with general merchandise stores who created 9,800 jobs last month. The greatest losses were endured by electronics, appliances, and clothing and accessory retailers who reduced jobs by 10,900 and 15,600 respectively in October. The manufacturing sector cut another 8,000 jobs last month, with the machinery subsector losing the most at 6,200 jobs. Construction experienced increases of 11,000 jobs, 6,000 of those in the specialty trade subsector.
October follows September as a month of minimal growth, slightly above last month's gains at 161,000 jobs created. While evidence of job growth in the transportation sector are undeniable, they continue to fall short of last year's figures. Many blame this stagnation on cuts in manufacturing jobs over the past year as factories across the country close their doors. Though job losses continue in this sector, the numbers decrease each month, down to 6,000 in October from 39,000 in April of this year.
The closing months of 2016 do not look like they will witness any major booms, according to economists' projections, but steady growth should continue into 2017. Further job development, especially in the transportation and ancillary sectors, is expected to occur into the coming year.
Though trucking job growth still falls short of where it was this time last year, economic projections for 2017 include growth across several sectors, particularly transportation and logistics. Manufacturing seems to be regaining some footing as well, as job losses continue to shrink monthly. Job cuts announced for October were at a five-month low, and as industries such as manufacturing and construction grow in the coming year, the demand for truck transportation will increase in kind.
While projections for 2017 remain positive, the close of 2016 does bring some economic uncertainty. The entire world waits to see what the coming months will bring, with the recent trouble in the European Union, talk of strikes in 30 west coast ports, and talk of trade renegotiations by the incoming White House. And while unemployment hovers around 4.9 percent, the question of whether this is due to a seasonal hiring boom arises. One thing is certain; if domestic manufacturing continues on its path of improvement and construction continues on its path of predicted growth, trucking jobs will continue to experience gains as well.