A word to the wise: There’s been a big drop in the number of people working in the railroad industry, and it could impact your operation.
According to new data from the U.S. Bureau of Labor Statistics, the rail industry lost 40,000 jobs between November 2018 and December 2020. This is after more than two decades of stability in rail employment.
Experts attribute the job losses to a decline in the use of coal, an uncertain trade environment exacerbated by the COVID-19 pandemic and the increased use of Precision Scheduled Railroading, which requires fewer workers.
Even though rail transportation comprised only 3% of transportation and warehousing jobs in November 2018, it accounted for 33% of the jobs lost between then and December 2020.
(From the Nov. 29, 2021, issue of Transportation Manager’s Dispatch. To start your no-obligation trial subscription to the publication right now, please click here.)