Each month the Georgia Center of Innovation for Logistics publishes a Logistics Market Snapshot with key Logistics and Supply Chain figures and statistics. Included are several Multimodal, Trucking, Rail, Air, and Ocean Freight Indexes, Industrial Vacancy and Rent Rates and general economic indexes. Please find a few encouraging statistics of this month’s edition below:
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Job openings rose in June to the highest level in more than 13 years. The number of unfilled positions climbed by 94,000 to 4.67 million, the most since February 2001, from a revised 4.58 million in May, a report from the Labor Department showed today.
These figures indicate there are about 2 unemployed people vying for each opening. The ratio when the last recession began in Dec. 2007 was 1.8 job seekers per opening. (Source: USDOL | Bloomberg)
Overall freight tonnage in the U.S. is expected to grow 23.5% from 2013 to 2025. Freight revenues are projected to increase 72% during the same period. Trucking’s share of freight tonnage will grow from 69.1% in 2013 to 71.4% in 2025.
(Source: American Trucking Association | IHS)
The Consumer Confidence Index increased to 90.9 in July 2014, up 4.5 points from the previous month and the highest since Oct. 2007. (Source: The Conference Board)
For the second quarter of 2014, PwC said there were 51 transportation and logistics M&A transactions valued at $50 million or more for a total of $20 billion, ahead of the 38 deals for a cumulative $16.2 billion recorded during Q1-2014 and the 39 deals valued at a cumulative $16 billion in Q2-2013. (Source: PwC | Logistics Mgmt.)
The Georgia Ports Authority reached an all-time high in container trade in July, moving 293,889 TEUs, a 19.2% increase year-over-year. Over 2.52 million tons of cargo moved through Georgia Ports in July, up 12.8% over the same month last year. Breakbulk cargo increased by 7% to reach 226,493 tons, and Roll-on/Roll-off traffic rose 8.5%. (Source: GPA)
During the first half of the 2014, the air freight industry experienced a 4.1% increase in volume as capacity rose by 3.6%. Middle Eastern air cargo saw the highest growth in volume with a 10% increase year-over-year. North American volume grew 1.6%. Airline companies are optimistic about state of the industry with 56% of airlines expecting higher volumes over the next year. (Source: IATA.org)