Will the Recent Decline in Truck Transportation Jobs Impact the Supply Chain? Likely No, Experts Say

 

The trucking industry saw a decline of truck transportation jobs in February 2023, marking the second-largest one-month loss in the last 10 years. Data out of the Bureau of Labor Statistics shows that the trucking industry saw a decline of around 8,500 jobs in February, coming in at 1,599,900 on a seasonally adjusted basis.

The recent job losses suffered by this sector are following a trend of steady job losses since the onset of the pandemic. Before the report in February, there had only been three months since the start of the pandemic when there had been a decline in truck transportation jobs; the biggest one-month drop was 3,100 jobs in March 2021.

The trucking industry transports over 72% of all goods in the United States.  It is responsible for moving goods from manufacturers to distributors and retailers, making it a crucial component of the supply chain. With that key context in mind, should there be cause for concern with the decline in truck transportation jobs? How will this impact supply chain issues that are just beginning to reset after the pandemic?

Todd Spencer, president of the Owner-Operator Independent Drivers Association, weighs in with his analysis on the new truck transportation jobs data and adds some more context on the forces behind this decline. Todd, with nearly 50 years of experience under his belt in the trucking industry, sees this more as business as usual for the trucking industry, though with some important caveats.

Todd’s Thoughts:

“Should we be concerned about the loss of 8,500 jobs that’s being reported right now by the Bureau of Labor Statistics? I’d say no. It’s basically just a blip on the radar. However, there is something to keep in mind.

Going back to April 2020, the economy for truck transportation has been literally red hot. During that time, trucking added 168,000 jobs and it added those jobs simply because there was a heightened demand for the goods that are delivered by truck, and certainly truckers came through to make good on those jobs, and certainly many in 2021 reported it was the best financial year they’d ever had in trucking.

So, what we’re going to see now is we’re kind of seeing the downside of that rapid expansion and you know, 8,500 jobs… we have too much capacity. There’re too many trucks out there on the road chasing available freight, and there’s still an abundance of freight. We’re at 2019 levels and maybe even still a little bit higher, but there’s been just too many trucks put on the road and some of them are going to have to shake out. And that will likely happen between now and going into the fourth quarter.

Does this in any way affect the supply chain? I don’t really see how. Generally, drivers themselves were most likely to be the victims of the inefficiencies in our supply chain and those inefficiencies are largely the result of other people basically wasting the time of drivers, not getting them in and not getting the trucks out. And you know… I would hope that would be better, but it may or may not.”

Follow us on social media for the latest updates in B2B!

Image

Latest

DXpedition
Icom Powers 3Y0K : Ham Radio’s Most Ambitious DXpedition to Remote Bouvet Island Part 1
July 11, 2025

Bouvet Island sits at the edge of the world. It is frozen, uninhabited, and almost impossible to access. Fewer people have set foot there than in space. That level of remoteness is exactly what makes it so valuable to amateur radio operators. The island ranks tenth on ClubLog’s list of Most Wanted DXCC entities,…

Read More
entrepreneurial success
The Hidden Key to Entrepreneurial Success: Build Momentum Through Personal Branding and Authentic Networking
July 10, 2025

What if the biggest pivot of your career started with a conversation?  In this episode of Professional Quotient, host Jason Winningham welcomes Fanny Dunagan, CEO and Content Strategist of PathLynks, LLC. Fanny shares her journey from high-pressure consulting in Singapore to founding her own media and branding company — and why learning to network…

Read More
Q2 2025
RM Q2 2025 Wrap Up
July 9, 2025

Rogue Marketing continues to lead with intention in a space often driven by noise. Q2 2025 reflected a strategic focus on substance, where each initiative supported long-term brand growth. The team transformed internal recognition efforts into enduring brand assets and refined event strategies through immersive, results-driven experiences. Website launches during the quarter balanced visual…

Read More
amateur radios
Hamvention Spotlight: Emergency Preparedness Led PrepHam Paul to Amateur Radios and a Rising Voice in the Field
July 9, 2025

PrepHam Paul (K5VLP) celebrated his first visit to Dayton Hamvention by marking a major channel milestone. He hosted a giveaway of the  IC-2370B mobile radio from Icom to thank viewers for helping him reach 10,000 subscribers. His passion for emergency preparedness, rooted in his experience as an Eagle Scout and later studies in emergency management,…

Read More