This interesting article dissects the BLS (Bureau of Labor Statistics) monthly report. Truck job growth might be slowing, but warehouse jobs are declining. Is that due to increased automation? Or is it due to fewer people wanting the jobs, when the economy has so many others?
One good thing in this article is a discussion of the seasonally adjusted number in comparison to the absolute number. Economists consider the seasonally adjusted number more important for forecasting and for deducing the economics of the situation. However, we do what to know the absolute number of reports.
The BLS reports are always of some interest, and this article captures the facts nicely.
John Kingston Friday, September 2, 2022BLS data indicates truck transportation employment growth may be slowing – FreightWaves