Click to enlarge.
The January 2024 US transportation sector unemployment* at 4.7% was the same as the January 2023 level (4.7%) and above the pre-pandemic January 2019 level of 4.0%, the Bureau of Labor Statistics (BLS) said today. However, the economy remains strong under the Biden Administration when compared with the job destroying Trump mis-administration.
Unemployment in the transportation sector was higher than overall unemployment. BLS reports that the US unemployment rate, not seasonally adjusted, in January 2024 was 4.1% or 0.6 percentage points below the transportation sector rate. Seasonally adjusted, the U.S. unemployment rate in January 2024 was 3.7%, as the Federal reserve continues its indefensible ideological, anti-data tight money policy (the highest interest rates in two decades!) with little or lately no inflation in AutoInformed’s view.
Seasonally adjusted, employment in the transportation and warehousing sector rose to 6,556,000 in January 2024 – up 0.2% from the previous month but down 0.8% from January 2023. Employment in transportation and warehousing grew 17.3% in January 2024 from the pre-pandemic January 2019 level of 5,587,600.
By Mode – Seasonally Adjusted
- Air transportation fell to 568,000 in January 2024 – down 0.3% from the previous month but up 6.4% from January 2023.
- Truck transportation rose to 1,555,700 in January 2024 – up 0.2% from the previous month but down 2.0% from January 2023.
- Transit and ground passenger transportation rose to 434,700 in January 2024 – up 0.6% from the previous month and up 1.4% from January 2023.
- Rail transportation fell to 152,600 in January 2024 – down 0.3% from the previous month but up 1.3% from January 2023.
- Water transportation rose to 72,200 in January 2024 – up 1.7% from the previous month and up 7.8% from January 2023.
- Pipeline transportation rose to 53,000 in January 2024 – up 2.3% from the previous month and up 3.5% from January 2023.
- Warehousing and storage rose to 1,779,000 in January 2024 – up 0.3% from the previous month but down 4.2% from January 2023.
*The BLS unemployment rate is the total number of unemployed persons, expressed as a percentage of the civilian labor force. The civilian labor force includes all persons aged 16 and older who are employed and unemployed. This means they are either currently working or actively looking for work. Unemployed persons include those who actively sought a job within the last four weeks. People waiting to start a new job who have not actively sought a job in the last four weeks are not counted as employed or unemployed; they are considered to be out of the labor force. An unemployed person’s industry is the industry for the last job they held in the workforce, which may or may not reflect their current job search field or industry.
US Transportation Sector January Unemployment Flat
Click to enlarge.
The January 2024 US transportation sector unemployment* at 4.7% was the same as the January 2023 level (4.7%) and above the pre-pandemic January 2019 level of 4.0%, the Bureau of Labor Statistics (BLS) said today. However, the economy remains strong under the Biden Administration when compared with the job destroying Trump mis-administration.
Unemployment in the transportation sector was higher than overall unemployment. BLS reports that the US unemployment rate, not seasonally adjusted, in January 2024 was 4.1% or 0.6 percentage points below the transportation sector rate. Seasonally adjusted, the U.S. unemployment rate in January 2024 was 3.7%, as the Federal reserve continues its indefensible ideological, anti-data tight money policy (the highest interest rates in two decades!) with little or lately no inflation in AutoInformed’s view.
Seasonally adjusted, employment in the transportation and warehousing sector rose to 6,556,000 in January 2024 – up 0.2% from the previous month but down 0.8% from January 2023. Employment in transportation and warehousing grew 17.3% in January 2024 from the pre-pandemic January 2019 level of 5,587,600.
By Mode – Seasonally Adjusted
*The BLS unemployment rate is the total number of unemployed persons, expressed as a percentage of the civilian labor force. The civilian labor force includes all persons aged 16 and older who are employed and unemployed. This means they are either currently working or actively looking for work. Unemployed persons include those who actively sought a job within the last four weeks. People waiting to start a new job who have not actively sought a job in the last four weeks are not counted as employed or unemployed; they are considered to be out of the labor force. An unemployed person’s industry is the industry for the last job they held in the workforce, which may or may not reflect their current job search field or industry.