When times get tough, here’s what’s really important
Anthony Smith and Zach Strickland made their predictions for the state of freight in the first 2021 episode of Freightonomics, and in this new episode they break down what matters most to influence those predictions.
2021 started off right where 2020 ended, with tight capacity and high rates. Consumer spending took a slight dip from November to December, but stayed strong into the start of January.
Smith says the housing market is also still distinctly tight, and lots of people keep using the time at home to pursue home improvement projects.
Strickland brings up the success of the holiday shipping season, and Smith says the COVID-19 crisis could have exposed weaknesses in the supply chain that led to a better buying and receiving experience for consumers.
Smith says one of the most important indicators of the health of the economy has been employment numbers. There is a huge number of people wanting to work, but there has also been a lot of permanent job loss due to people not being able to adjust during times of uncertainty.
Smith and Strickland discuss how most of the job losses have been in the service and hospitality industries and neither group has recovered at all. However, the “grassroots” industries like transportation, warehousing and distribution have seen good recovery.
You can find more Freightonomics recaps and recaps for all our live podcasts here.
Brokerage Compliance Symposium
The day before F3. Every compliance issue you face - fraud exposure, carrier liability, FMCSA rules, cargo theft, insurance gaps - navigated by attorneys and operators defining best practices in a changing industry.
F3 Awards Dinner
The night before F3. FreightTech100 companies honored. FreightTech 25 and Shipper of Choice winners revealed live. Cocktail reception into dinner and live music - 300 industry leaders in one purpose-built room.
F3: Future of Freight Festival
Industry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The day before F3. Every compliance issue you face - fraud exposure, carrier liability, FMCSA rules, cargo theft, insurance gaps - navigated by attorneys and operators defining best practices in a changing industry.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowThe night before F3. FreightTech100 companies honored. FreightTech 25 and Shipper of Choice winners revealed live. Cocktail reception into dinner and live music - 300 industry leaders in one purpose-built room.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowIndustry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register Now