“Trends is an important record of how the trucking industry is performing,” said ATA Chief Economist Bob Costello. “That’s why it is on the shelves of business leaders and policymakers across North America. “This year’s edition shows that 2023 was a very challenging year, but the industry weathered the storm, moving more than 11 billion tons of freight during the year,” he said. Among the key findings in this year’s report: *Preliminary figures indicate that trucks moved 11.18 billion tons of freight in 2023, down from the 11.46 billion tons hauled the previous year. *Preliminary figures indicate that the industry saw revenues grow to $987 billion, up from $940.8 billion in 2022. *Trucking employed 8.5 million people in industry-related jobs, including 3.55 million professional drivers in 2023. *The industry remains one made up of small businesses, with 95.5% of carriers operating 10 or fewer trucks and 99.6% operating fewer than 100 power units. *Cross-border trade remained a robust source of freight for motor carriers, with trucks moving 66.5% of surface trade between the US and Canada, and 84.5% of goods across the Mexican border in 2023.

Futures fell for a second day as U.S. crude stockpiles were seen expanding for the first time in 11 weeks, ending a record run of declines. A sharp contraction in…

The flipping of the calendar brought with it increases in the minimum wage in select states across the country. Nineteen states increased their minimum wages on Jan. 1, raising earnings for more than 8.3 million workers (list of states at end of article). For the first time, there are more workers in states with a $15 or greater minimum wage than in states with the federal minimum of $7.25, according to the Economic Policy Institute. In addition, 47 cities and counties raised their minimum wages, adding to the number of workers likely to get larger paychecks. The state with the biggest increase in 2026 is Hawaii, where the minimum wage increased by $2 per house, rising from $14 to $16. Other states with minimum wage increases include Arizona, California, Michigan, New Jersey and New York. With the 2026 increases, Washington maintains its position as the state with the highest minimum wage in the country, with workers receiving $17.20 per hour. New York City is next, at $17 per hour (the increase also applies to New York’s Long Island and Westchester.)