The freight market seems to have bottomed out in April, but May didn't fare much better, showing only a 1.6% increase from April. Shipping volumes were down 23.6% compared to last year.
Sky-high unemployment, continuing fears of coronavirus, and recent government action will suppress any sort of sharp rebound in activity and most likely keep volumes below 2019 levels until next year at the earliest.
With increasing demand comes higher prices. Truckload linehaul rates began an upward climb as well, inching up .7% from April.
