4 Trucking News in July-August That You Can’t Afford To Miss
From important events to major decisions – the past few months were quite eventful for the trucking industry. Over here we discuss 4 most important news pieces related to the trucking industry from the month of July and August:
1. Transportation and Logistics added thousands of new jobs in July
According to the U.S Labor Department, the trucking companies added 1,700 new jobs in the month of July. The transportation and warehousing industry has added 11,700 new jobs. This indicates a significant growth in this sector. According to analysts, the trucking industry appears in a stabilized state.
2. Trucking Industry Witnesses Rise in Revenue
According to the “American Trucking Trends 2016” released by the American Trucking Association (ATA), the trucking industry has earned a record revenue of $726.4 billion in 2015. The report also revealed that the rate of employment generation too was high in 2015. Compared to the previous year, in 2015, the trucking industry employed 3.5 million drivers. The industry collected about 81.5% of freight revenue in 2015. The report shows that the industry employed about 586,000 for-hire carriers till the month of May in 2015.
3. Trucking Industry Embrace new Federal Law to save Environment
In the month of August, the Environmental Protection Agency and the Transportation Department announced new regulations and standards for trucks and big vehicles to cut down emission. This is a step taken to reduce fuel consumption and control carbon emission. The trucking industry results in about 6% of the total carbon emission in the USA. Big vehicles are now required to cut down emissions by 25%.
4. Commercial Trucks will Be now subjected to Brake Inspection
By the first week of September,the law enforcement agencies in North America will inspect trucks and buses and conduct a thorough check up of their brake system. This initiative is part of the Commercial Vehicle Safety Alliance’s (CVSA) Brake Safety Week. During these inspections, the focus will be on finding faults such as missing parts, air or hydraulic fluid leaks. A properly maintained brake system is crucial for the safety of the vehicle. This initiative is been considered a progressive step towards minimizing accidents and ensuring public safety.
Hopefully, these news pieces will help you remain up-to-date with the latest happenings in the trucking and logistics sector. If you are into trucking business and are looking for m&a consulting for transportation and logistics, then get in touch with us. We are one of the most trusted and experienced trucking consultants and believe in delivering the best solution. Contact us today at https://linqpartners.com/contact-us/