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Axle Monthly Update: May 2024

May 7, 2024

Flowers for mom, and continued lower rates for shippers?


CVSA’s International Roadcheck Is Scheduled for May 14-16

The Commercial Vehicle Safety Alliance’s (CVSA) International Roadcheck is scheduled for May 14-16. International Roadcheck is a high-visibility, high-volume, commercial motor vehicle inspection and regulatory compliance enforcement initiative that takes place over three days in Canada, Mexico and the United States. CVSA-certified law enforcement personnel will inspect commercial motor vehicles and drivers at weigh/inspection stations, temporary sites, and via mobile patrols to verify compliance with federal, state, provincial or territorial regulations. Each year, International Roadcheck places special emphasis on a different category of violations. This year, International Roadcheck will have two focus areas – (1) tractor protection systems and (2) alcohol and controlled substance possession.


FTR reported a weaker total truckload rate outlook in the newest report, rates are forecast at -1.2% y/y vs down -0.4% previously. All equipment types saw increases in the forecasted drop vs the April release. The Dry Van forecast for March dropped from a -3.8% y/y % projection to -5.5%. Refrigerated also saw a notable change, moving from a forecast of -2.8% to -3.9%. For hire trucking added a seasonally adjusted 5,100 payroll jobs in March following an upward revision of 2,600 jobs to February’s numbers. That said, general freight is showing a little bit of a flattening. Employment in general freight is down 7,700 jobs, or 1.4% since May 2023.

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