Spotlight the one-time expenses . The East Palestine settlement and first-quarter operating ratio are likely to stir up a contentious battle between the railroad and activist investor Ancora Holdings . NS ’ s operating ratio is higher than CSX and other North American railroads , thus Ancora argues the railroad is underperforming against its competitors . Ancora has also said the East Palestine crash and one outside Allentown , Pa ., in March show NS isn ’ t prioritizing safety . The investor wants NS CEO Alan Shaw to be replaced by former UPS executive Jim Barber and for former CSX COO Jamie Boychuk to take over for Orr . Shareholders will vote May 9 on NS ’ s future leadership .

March job gains for trucking signal rebalancing

Green shoots in the US freight market grew a bit higher in March and boosted trucking employment , although courier and warehousing employment both fell . The Journal of Commerce For-Hire Trucking Employment Index moved from 100.1 in February to a preliminary reading of 100.5 in March , as trucking firms made headway in hiring . That indicates trucking employment in March was 0.5 % higher than in the fourth quarter of 2018 , the base period for the Journal of Commerce index and a high point for trucking employment prior to the COVID-19 pandemic . Data released by the US Bureau of Labor Statistics ( BLS ) April 5 showed for-hire motor carriers added 6,100 jobs in March before seasonal adjustment , a 0.4 % increase from February when trucking employment hit a 12-month low . Trucking emerged from the first quarter with 1.53 million employees , according to the unadjusted BLS data . Seasonally adjusted data shows the number of jobs gained was six times

Trucking employment at 2018 levels but rising

Journal of Commerce for-hire trucking employment index

Index Reading ( 100 = 2018 Q4 )

106 104 102 100 98 96 94 higher than the BLS expected . The increase also was the first February-to-March gain in trucking jobs since an 8,500-employee increase in 2021 . Trucking ’ s payroll is still about 19,400 jobs short of the number employed in March 2023 , but the increase in trucking hiring this year began earlier than last year . Trucking employment typically rises in March as carriers prepare for the spring retail and produce seasons . Month-to-month declines in 2022 and 2023 reflected a weakened freight economy . The increase in trucking employment last month suggests a return to normal seasonality and perhaps a rebalancing freight economy . A capacity-demand imbalance remains , keeping pressure on rates , but economic indicators suggest shippers and carriers are getting closer to an equilibrium .

92 L 2020 2021 2022 2023

Index

Source : The Journal of Commerce , U . S . Bureau of Labor Statistics data © 2024 S & P Global

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