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- Seven trucking companies have faith folded in 2019.
- That has left more than 2,500 truck drivers unemployed.
- After a vastly winning year in 2018, this year has seen stores and producers transferring less, in accordance to the Cass Freight Index.
- Talk over with Enterprise Insider’s homepage for more reports.
Truck drivers are struggling in 2019 — particularly other folks that beget or work at limited businesses.
Charges in the place market, in which stores and producers prefer trucking capability as they need it in space of through a contract, sank by about 18% year-over-year in June. That has prompted truckers delight in Demetrius Wilburn, a Georgia-primarily based mostly mostly driver, to acquire themselves unemployed.
Wilburn sold his semitruck four years ago after years of working as a firm truck driver. But amid rock-bottom rates, Wilburn wasn’t in a issue to create a fee one month — and his truck used to be repossessed.
“I was only six months a ways off from paying it off,” Wilburn suggested Enterprise Insider. “I’m making an strive to transition reduction into regulation enforcement now — originate now not are looking out for to ever pressure trucks again. Positively now not fee it.”
The Lexington, Kentucky-primarily based mostly mostly owner-operator Chad Boblett suggested Enterprise Insider that some truck drivers were seeing a “bloodbath” in only how low rates had was.
Right here are the trucking companies that have faith long previous bankrupt in 2019, and the diagram in which many truckers who in the meanwhile are out of a job. We mature the Federal Motor Provider Safety Administration’s firm-snapshot tool to measure what number of truck drivers labored at each firm.
Are you a truck driver who has been struggling in 2019 from low rates? Contact the reporter at rpremack@businessinsider.com.