In May the United States Department of Labor published new regulations that will affect who may be paid a salary and who must be paid by the hour. The changes, which take effect December 1, 2016, dramatically change the landscape for employers.
Truckload linehaul rates in June were nearly the same as the month before, but they are still below levels from a year ago, while there seems to be no end to the recent drop in rates for intermodal shipments.
Truckers should expect six to nine more months of downward pressure on rates, a leading transportation analyst suggests, but shippers should be cautious about aggressively pursuing cost reductions as a regulatory squeeze on capacity could outweigh a stagnant economy by mid-2017.
Britain's economy is shrinking, the broadest survey of business confidence since last month's historic vote to quit the European Union showed on Friday, leading finance minister Philip Hammond to pledge a loosening of purse strings if the weakness endures.