openings

The job openings rate in the overall economy hovered at record highs at the start of the 2nd quarter, as companies across industries continue to struggle to find workers. Results from the transportation sector show an industry facing a significant challenge, and wages will likely face additional pressure to rise in upcoming months.

Job growth has improved since the start of the year in the trucking industry. While this is strong step in address the driver shortage, the industry will soon find itself having to compete long-term with other industries desperately searching for skilled labor.

Job openings reached a record high in the January JOLTS data. Results were especially pronounced in the transportation and warehousing sector, where openings surged and hiring failed to keep pace