The trucking scene in Florida is hitting the brakes. Here's what the data shows for the Sunshine State.
Permit Plunge: Broker permits dropped by 10.6% in 2023.
Carrier Cutback: Motor carrier permits are down by 13.75% this year.
Florida comes in as the state with the second-highest percent drop in broker permits.
During the pandemic's peak, truckers and freight brokers thrived as online shopping soared. But as consumer spending shifts from goods to experiences, the industry is feeling the pinch.
Ripple Effects
Training Tumble: Enrollment in truck driving schools like Sage is dipping.
Company Closures: Small trucking businesses are especially vulnerable, with many shutting down.
The industry is 'normalizing' after a pandemic boom, grappling with lower freight rates and higher fuel costs. The Florida downturn mirrors a 78% drop in the national freight market, hinting at economic recalibration.
📊 Diesel prices rise, hiding a downturn in the trucking market. While spot rates appear stable, without fuel costs, they trend lower. Carriers face rising costs without raising prices. Shippers, brace for a tighter 2024! 🚛⛽️📉 #ChartOfTheWeek#FreightWaves#SONARhttps://t.co/3pNnVKfMjP
Hi! I'm Adriana and I've been working for FreightCaviar as Head Writer for a little over a year now. Some of my favorite topics to cover are FreightTech, Green Freight, and nearshoring/reshoring.
The US labor market is showing signs of stabilization as the rate of voluntary job quitting approaches pre-pandemic levels and employers implement better retention strategies.
