Americas Transportation: Tracking Trucker Employment

Truckload driver employment remains at decade-lows (6.3% below pre-COVID), despite a slight uptick in March and April hiring. Regulatory threats like the 'Dalilah law' may further constrain capacity, potentially supporting higher TL rates and equity performance.

Key Takeaways

• 1.Truckload (TL) driver levels remain significantly depressed, reaching the lowest point since 2014 and sitting 6.3% below pre-COVID levels.
• 2.Legislative changes, such as the proposed Dalilah law, could further restrict driver supply by limiting CDLs to U.S. citizens and permanent residents.
• 3.Truckload stocks have outperformed the broader transportation sector as capacity balance improves and spot rates accelerate.

Table of Contents

• Americas Transportation
• Disclosure Appendix
• Reg AC
• GS Factor Profile
• M&A Rank
• Quantum
• Disclosures
• Regulatory disclosures
• Ratings, coverage universe and related definitions
• Global product; distributing entities
• General disclosures

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