The jobs report that came out Friday indicated a total of 217,000 jobs gained although no change to the unemployment rate which is still at 6.3%, there were gains in the transportation-warehousing sector which rose by 16,000 in May. The industry over the prior 12 months has added average of 9,000 jobs per month, and in May transportation had 6,000+ and 4,000+ for messengers and couriers. Other sectors showing job gains throughout the year included manufacturing which added 105,000 jobs and both sectors (transportation and manufacturing) should maintain gradual growth for the next 12 months. We welcome the comments of individual truckers/carriers and their opinion on how they expect the industry to perform through next year.
Why freight factoring is so important to a carrier? Freight factoring is the blood flow of cash flow, a carrier to remain competitive and operate successfully must offer credit to its customers, typically 30 to 90 days, so this is cash that the business will not receive right away, so how can the business operate having to wait that long for their payments, well, freight factoring? With factoring, the trucking company sells its outstanding invoices to a factoring company right after the invoice is issued, providing the carrier with the necessary cash to continue operating without a cash flow shortfall. https://www.1sttruckingfactoring.com
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