Coronavirus
European Auto Industry Buckling Up for at Least 35,000 Job Cuts
The extent of the devastation wrought on the European car industry by the coronavirus pandemic came into sharp focus May 29 when a sampling of major vehicle and parts manufacturers from France to Sweden revealed plans for at least 35,000 job cuts.
US Consumer Spending Plunges While Stimulus Boosts Incomes
U.S. consumer spending, which accounts for about two-thirds of the world’s largest economy, plunged in April by the most on record after the coronavirus pandemic halted purchases of all but the most essential goods and services.
New Economic Data Show How Deep and Fast Recession Began
Just how deep and swift the U.S. economy’s plunge into a recession has been since the coronavirus pandemic hit the nation was evidenced by a number of reports, including that millions continued to apply for unemployment benefits.
Driver Shortage Is Over Temporarily
The often discussed driver shortage is over — at least for the time being — as a result of the COVID-19 pandemic, the deepening U.S. recession and a falloff in the amount of freight being hauled by many sectors of trucking, industry experts said.
Democrats Push Pandemic Aid, Highlight Infrastructure Package
House Democrats signaled the potential for unveiling a comprehensive infrastructure measure in the near-term as they continue to push Senate leaders to consider a pandemic relief bill that would provide $15 billion for highway programs.
US Layoffs Climb to 41 Million, Despite Business Reopenings
An estimated 2.1 million Americans applied for unemployment benefits last week despite the gradual reopening of businesses around the country, bringing the running total since the coronavirus shutdowns took hold in mid-March to about 41 million, the government said May 28.
Zipline Medical Drones Begin Flying in the US
On May 22, before Memorial Day, a six-foot long, red-and-white drone took off from a field in Kannapolis, N.C., flew 15 miles west over suburban Charlotte to Novant Health’s Huntersville Medical Center, and dropped a box of protective masks in a designated spot next to the parking lot.
Trucking Begins to Rise Off the Bottom
Present conditions signal the bottom of the pandemic’s vertiginous drawdown of the freight market, trucking industry observers said. But other economic conditions, in place earlier in 2019 and 2020, remain as a potential drag.
Trucking Companies Adapt to Coronavirus Realities
Trucking companies have been nimble in adopting changes to their operations both on the road and in the office as a result of the COVID-19 outbreak, industry executives said.
Boeing Begins Cutting Workforce With 6,770 Layoffs in US
Boeing Co. unveiled the first and deepest of its planned job cuts, saying it would notify 6,770 employees in the U.S. this week that their positions would be eliminated.