Analysis of government labor data reveals major growth within logistics, despite the labor market showing signs of cooling off since the beginning of the year
A new analysis has revealed an expansion in opportunity within the transportation, warehousing, and utilities sector. The industry has experienced a rise in the number of new hires despite the current economic slowdown prompting employers to reduce the number of roles available in most industries.
The number of hires within transportation, warehousing, and utilities has risen by 15.6% in the last year. Despite 428,000 fewer hires across U.S. industries in March 2023 compared to March 2022, transportation, warehousing, and utilities companies filled 47,000 new roles in March this year – making up almost 6% of all hires across the U.S during that month. There were a further 435,000 job openings in March across the logistics sector.
The findings were collated by Business Name Generator, using the latest data from the U.S. Labor Department’s monthly Job Openings and Labor Turnover Survey. The analysis uncovers the industries that are showing the most job opportunity compared to last year.
Following only the federal government sector, transportation, warehousing, and utilities experienced the second largest hire boom out of all U.S. industries in the last year, ahead of sectors including healthcare and local government.
Top 5 industries by hire number increase over last year:
1. Federal government – 17.5%
2. Transportation, warehousing, and utilities – 15.6%
3. Health care and social assistance – 9.9%
4. State and local government – 8.3%
5. Mining and logging – 7.0%
The U.S. logistics market is in a growth phase, driven by increasing demand for warehousing and the booming e-commerce market in the U.S. This industry growth is allowing companies to increase their workforces.
The ‘USA Logistics Industry Outlook to 2026’ report* by Ken Research suggests that the logistics market is expected to continue growing in the near future as there is an increase in investment in infrastructure and government support to make the U.S. a logistics hub.