[FFW News] Only half of truck drivers are happy

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House passes stop-gap funding bill. Finally…right?

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📈 BY THE NUMBERS: Important numbers impacting freight and logistics

⛽ Diesel: $4.294 gal (🔽from $4.366 last week) - Source: EIA

✈️ Air Cargo Index (Sep ‘23): 156.4 (🔼from 155.9 in Aug ‘23) - Source: FRED

🚢 Global Container Index: $1,217.28 - Source: Freightos

Logistics News for Nov. 15, 2023

😓Survey finds that only half of truck drivers are happy

The trucking human resources intelligence company Drive My Way found that only about half of drivers surveyed are happy. What does this mean for full freight, LTL, and other trucking categories? More pay is a big indicator for more job satisfaction. While about 51 percent are happy, 22 percent are unhappy and 26 percent were neither happy or unhappy. Is pay the way to go? Read more…

🤑House passes stop-gap funding bill to keep US government open

House Speaker Mike Johnson, R-Louisiana, was able to reach a bipartisan solution in adopting a temporary funding bill to keep the US government open. The next step is for the Senate to pass the bill, which is expected Friday. Read…

🗡️US Chamber, industry groups criticize California clean fleet rule in court

A coalition of industry groups, namely the US Chamber of Commerce and advocacy organizations for the fuel and trucking industries, has filed an amicus brief in federal court in a lawsuit brought by Republican-controlled states. The lawsuit challenges California’s clean fleet rules for trucking. More (paywall)…

📦US Postal Service posts a massive loss in revenue for 2023 fiscal year

United States Postal Service has posted a massive loss for fiscal year 2023, which officially ended on Sept. 30. According to the nation’s official parcel service, they lost $6.5 billion net—a very sharo decline from the $4.5 billion loss the Postal Service forecasted a year ago. USPS continues to struggle to compete. Read…

🚢"Boom-and-bust cycle” for ocean carriers and shippers severe

Fortune and Bloomberg are reporting a severe “boom-and-bust cycle” for the global shipping industry that it so severe, things can look up or go south in a matter of weeks, if not days. But things aren’t terrible due to the fact that the shipping industry is recovering to pre-pandemic levels after about two years of wayward performance due to the COVID-19 hiccups in the economy. More…

🆙South Carolina ports continue to report strong performance

SC Ports announced record volumes for the month of October 2023. Container volumes are recovering to pre-pandemic levels and the spike is also indicative of the shift in cargo from West Coast mega ports during ongoing strikes. Read here

☕Read these stories because, why not?☕

• “STB gets earful on proposed rule for reciprocal switching” - Freight Waves

• “UBS projects inflation is coming to an end, but that’s ‘little comfort to households,’ chief financial analyst says” - CNBC online

• “US producer prices unexpectedly fall in October” - Reuters

• “Energy Department Announces $3.5 Billion for Battery Funding” - Transport Topics

Compiled by Michael McGrady – news analyst and writer.

Do you have a tip? Feedback? Email him – [email protected]