The Trucking Industry Is COLLAPSING

Welcome to The Living Freed Channel. In this video I talk about why I believe the trucking industry is in a recession and what someone working in the trucking industry can do to get through the recession. If you like the content please like the video and subscribe to the channel for more in the future!

Crete Carrier Driver Code: FRETY

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[dominick]

My first day of business class in college on the first page they had a list of the stock market from its inception. Without fail every 10 years there's a recession and where do for one. On the bright side it's a great time to buy equipment and start a business you can usually get better prices and if you can start a business in a recession then you will definitely be able to make it when the economy picks up.

[damianbennett]

2 years in the game. Still with the same company I started with. You have no idea how desperately I needed to hear this

[johnlucas]

The whole country is in recession not just trucking

[macksrbest]

9000 companies have gone out of business since the beginning of 2023 it weeds out the weak and cheap freight haulers and after 40 years the truth is I absolutely love it

[tbj]

We were in a recession since last year 2022 but the FED government didn’t want to Announce it smh

[chadha]

Was hauling with a dry van through glory made lots of money. Past 3 months we couldn't find a load that paid better than $1.60 so we decided to give up dryvan & go flatbed. Things started to seem much better.

[tomsims]

It doesn't help when brokers are robbing owner operators and carriers

[deangelo]

I been driving over 31 years and have seen it all. There will always be up and downs no matter what President is in office. You had covid, supply chain issues, pulse things are a lot higher these days. You have save your money and take advantage when things good.

[fredercolani]

I’ve been out here 30 years and 24 years as a o/op. The last two years were my best ever now in 2023 there’s definitely a difference. Rates are down in certain areas and depending what you haul. For example coming out of the north west you’ll take a hit for sure so if you’re going there make sure your getting paid well. Back in 2008 the trick was just keep the wheels moving. I remember lots of drivers lost there trucks. When it’s tough as long as you’re making a profit keep rolling and eventually it’ll come back

[InstructorMonaghan]

Sorry that you and hundreds of thousands are having a tough time in the industry. The freight index has been down for 33 consecutive months now. That is lower than when it was, not consecutively falling per month. We are still yet to fully recover from the throes of Covid, but have come some way to meet this end. I hope, duly, that things improve for everyone in the industry. The entire economy survives on your shoulders, it's for the best that things are brought up to speed in the trucking industry.

[The_Humble_Hurricane]

As a new student who'll be starting his driving career next month, i truly appreciate you for this. Especially being a content creator myself 🙏🏿

I'm also hugely in support of your advice on getting tf out of debt immediately, building your credit, having 6 months to a year of savings etc. Been my mindset for a long time and I love seeing that knowledge spread. Keep up the great work my guy. You have a new supporter 💯

[bigcamracing]

I can say from 38 years experience that companies/drivers taking loads for low rates has been the biggest problem with the industry. Shippers and brokers have always taken the cheapest route vs the quality route and we are seeing this running rampant now. Until major players in our industry start bringing rates back up and hiring quality trained drivers it will continue on its present course.

[alexfleming]

I give it about a yr maybe two. Solo drivers are done. They want a truck that doesn't stop. It's cheaper to split 75 to 80 cents per mile between two guys than let a truck sit for 11 hrs. The cost of freight will stay low no matter who the president or the head fmcsa is. That's why they increased insurance and fuel both of which you need to keep running. Folks were on YouTube during the pandemic claiming 8 dollars a mile. If your not in specialize hauling, your done. Not trying to rain on the parade but the writing been on the wall.

[timpearson]

I've been out here 34 years we go through this every 10 years or so

[trentmsteel]

Still sittin on all my Covid trucking income. Once all these Covid carriers dry up. I’ll be ready

[mymisty]

Glad i got onto a dedicated account. No slow downs on this account.

[HowlingFunRVAdventures]

I work for a mega carrier and our freight is very slow. I did receive a message that next month should be better, not normal but better.
I do suggest more than 6 month savings. My family lost it all last recession and we had 9 months savings plus our mortgage was ahead 3 months.

[edkincaid]

Been doing this game since 1983. it always goes up and down.when 😊freight is up every one is just crazy.but when it drops it drops for awhile. It will come again.

[williampeters]

You're not alone. I worried to about how things are going. I'm on the northeast regional board working for Crete. Believe me I worry more than the rest probably. My kids are your age and I worry even for them

[stayinyourlaneaudits]

Can’t deny I’m glad I went company to get experience and didn’t jump out there when prices were high. Looking to pick up a gently used 2020-22 cascadia in the near future. My dedicated lane is grocery so I should be ok until shit hits the fan.