Trucking HR Canada Releases Latest Labour Market Snapshot

Feb 13, 2024 - 2 years ago

Trucking HR Canada (THRC) has released its quarterly Labour Market Information (LMI) snapshot. THRC’s quarterly reports provide data that is not available anywhere else, and shares in-depth analysis by experts who understand the trucking and logistics sector.

“The November 2023 report shows employment is rebounding across the supply chain,” says Angela Splinter, CEO Trucking HR Canada. “This is good news for all of us, but also means our work is not done. The latest data shows that employment for truck drivers is stabilizing, while volatility for shippers and receivers is growing.”

Here are some highlights of the report:

Total employment fell by 4.3% in the trucking and logistics sector through the first quarter of 2023, but then began to rebound during the next two quarters: 39,900 jobs were added between April and June and another 9,800 between July and September.
At the same time, unemployment in the trucking and logistics sector fell, meaning employers have fewer applicants for open positions — 5,700 fewer between March and July of 2023. Despite adding 3,100 more job seekers in August and September, the unemployment rate among sector workers stood at 2.3%, far below the national average.
Unemployment of truck drivers peaked in April 2023, reaching 6.5% but dropped sharply over the second and third quarters of the year, settling at 3.4% in September.
The unemployment rate among shippers and receivers in the trucking and logistics sector reached 4.6% in September, when the number of job seekers surged, with some 5,000 shippers and receivers actively seeking work in the sector.

Trucking HR’s labour market information informs programs that help meet the industry’s HR challenges by providing relevant, accurate, timely and actionable data.

For an archive of LMI data and previous outlook reports, please visit: https://truckinghr.com/labour-market-information

Source: Trucking HR Canada