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Supply
Chain by the Numbers |
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- March 21, 2024
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Big Cost of eTruck Infrastucture; Tyson Exec Says looking for Migrant Workers; ATA Tonnnage Index Falls again in February vs 2023; February US Manfacturing Output Flat Again |
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$1 Trillion |
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| That is about how much it will take to build the infrastructure needed to enable the US trucking industry to transition to full electrification, according to a new study commissioned by the Clean Freight Coalition. The goal of the study: bring some clarity to what the switch would cost to inform policymakers and the public. The organization was formed to advocate for lower emissions in trucking, but in an economically effective way. The report was conducted by management consulting firm Roland Berger, which found $620 billion of investments would be needed for charging infrastructure, with an additional $370 billion to upgrade distribution grid networks. Said American Trucking Associations President Chris Spear: “What Roland Berger’s study shows us is that this mad dash to zero exposes the supply chain to a $1 trillion unfunded mandate.” |
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That was the level of the US manufacturing output index for February, as released this week as usual by the Federal Reserve bank. That was 0.8 percentage point above from index level of 98.4 seen in January, and about the same as scores hovering around the 99.0 level since February 2023, with no real growth, but not recessionary with declines either. The February score was also down 0.7% from the same period in 2023. At an index level of 99.2, it means US manufacturing is still below output in the baseline year of 2017 (index = 100) now seven years later. It is also well below the all-time high of about 108, reached in late 2007. |
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4.3% |
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| That was the solid rise in the American Trucking Associations’ advanced seasonally adjusted For-Hire Truck Tonnage Index in February versus the prior month, after decreasing 3.2% in January. However, when compared with February 2023, the index fell 1.4%. That represented the twelfth straight monthly year-over-year decline. “After a very soft January, due in part to winter storms, truck tonnage snapped back in February,” said ATA Chief Economist Bob Costello. “February’s level was the highest in a year, yet the index still contracted from a year earlier, suggesting truck freight remains in a recession.” In February, the index equaled 116.0, compared to the baseline year of 2015, when the index = 100. That means tonnage in the month was just 16% versus 2015, now nine years later. |
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That rather amazingly is the number asylum-seekers and migrants that Tyson Foods says it’s eager to hire after they arrive in the United States, according to a report this week from Bloomberg. The food giant is allegedly aiming to hire workers for its factories and warehouses from the huge influx of migrants coming into the country from South and Central America. “They’re very, very loyal,” Tyson human resources leader Garrett Dolan said in a statement to Bloomberg. “We would like to employ another 42,000 if we could find them,” Dolan supposedly said. However, Tyson is disputing the report, releasing a statement on their web site accusing the article of “misinformation,” and adding that ““Tyson Foods is strongly opposed to illegal immigration.”
