Not as spectacular as yesterday's markets dumps, but this fits neatly with the PMI Index decline.
...Truck transportation jobs fell in July for the fourth consecutive month and now are 30,000 jobs less than where they stood a year ago.
The four-month sequence of job declines in the truck transportation sector reported by the Bureau of Labor Statistics, following revisions, is a decline of 1,600 jobs in April, 6,800 jobs in May, 900 jobs in June and 2,400 jobs in July.
At 1,544,700 seasonally adjusted jobs, truck transportation employment stands exactly 30,000 jobs less than where it was in July 2023....
If manufacturing (PMI) is off, then 'moving the goods' will also be off.
So far, this is not a catastrophic dive; you can still see "HIRING" signs on the backs of most semi-trailers on the highway.
But it's there. It's real. And it is hung around the neck of Kammy and Joe.
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