When Do You All Think The Market Turnaround Will Happen

Just wanted to see what you all think about the current downturn. It seems that with such a prolonged downturn that a change would be on the way sooner than later. I know the market is still clearing excess capacity and that nobody has a crystal ball, but when do you think things will start to pick up? 2024? Later?

That's an impossible answer to know these days. When you look at the past several years and the long list of devasting blows our economy and our society have taken, it's impossible to know what's coming next.

I mean, just the fact that the Federal Reserve, in a matter of a year or two, printed 40% of all of the US dollars ever in existence, caused massive inflation, and then drove interest rates up at the fastest pace in history. How the hell can anyone know what's gonna happen after that?

I spend a lot of time studying the economy, and people with far greater knowledge and experience than I have are completely baffled about our future. Some say massive inflation is on the way, others say we're heading into a deflationary depression. Still others thing everything is going to go gangbusters and our economy will soar to new highs very soon.

Personally, I think AI is going to wipe out tons of jobs, and we're heading for a very serious slowdown, possibly for several years to come. I just don't see how our economy can face the list of problems it has with barely a hiccup.

Normally, technology is a huge boom to the economy, but with AI, this is something we've never seen before. The big tech companies are laying off people in groups of 10,000 or more. Other corporations will follow, as soon as they figure out how to use AI.

Trucking seems pretty stable right now, and jobs are easy enough to find, as always. It might be tougher than it is during boom cycles, but the bust cycles don't last long in trucking because the industry adapts pretty quickly. When things get ugly, the number of trucks on the road decreases rather quickly, and rates pick up again.

I don't know what the future of our economy would be, but my best guess is that we have some tough times ahead before things start going strong again.

From what I've been reading, alot are saying Q3 of 24. Miles and loads have picked up for me and been consistently busy for the last quarter. My TM and DMs have said there are still bad areas, but that freight has picked up for us. It's still a market that requires a driver to bring their A plus game every day though. At least with us, those that don't are sitting a lot.

Normally, technology is a huge boom to the economy, but with AI, this is something we've never seen before. The big tech companies are laying off people in groups of 10,000 or more. Other corporations will follow, as soon as they figure out how to use AI.

Trucking seems pretty stable right now, and jobs are easy enough to find, as always. It might be tougher than it is during boom cycles, but the bust cycles don't last long in trucking because the industry adapts pretty quickly. When things get ugly, the number of trucks on the road decreases rather quickly, and rates pick up again.

I agree, the AI displacements could happen in much higher volume than technological displacements have in the past. Many times with tech advancements a newly created job is there to which the displaced workers can be moved. I think the rate at which AI can displace jobs will make that very difficult if not impossible.

In the past many thought that AI would impact blue collar jobs first and hit them the hardest, however it is looking like so many white collar jobs are going to be impacted prior to blue collar jobs.

From what I've been reading, alot are saying Q3 of 24. Miles and loads have picked up for me and been consistently busy for the last quarter. My TM and DMs have said there are still bad areas, but that freight has picked up for us. It's still a market that requires a driver to bring their A plus game every day though. At least with us, those that don't are sitting a lot.

That is good to hear that things are picking up and that consistency is there.

DJames, you've been doing your homework. I'm in strong agreement about AI. It will wipe out an incredible number of workers over the next 1 - 3 years. It could be staggering.

The trucking industry will be fine from a driver's perspective, regardless. There will be plenty of good jobs out there.

I think AI is about to usher in a new wave of enthusiasm toward trade schools. If you need physical tools to do your job, you might be around for a while.

I think when this stops, the market will begin to improve.

I think when this stops, the market will begin to improve.

Let's hope Q4 '24.

The trucking industry will be fine from a driver's perspective, regardless. There will be plenty of good jobs out there.

I think an unintended side effect that we’ve already started to see the last few years is that the job displacements will push more people into trucking. That could cause the lower rates in trucking to continue for longer than expected due to the prolonged elevated capacity.

I’m grateful my company has plenty of work and they let me run my butt off. I still wish the rates were higher though. I have to run very hard to make the kind of money I generally like to make.

And then ya have those great *cough,gag,choke* minds running/ruling California, just came up with a new bomb. They want to raise all food service workers pay to $20 an hour this coming April ! Pizza Hut, is already saying, they will close 1,200 delivery driver jobs. Even though some can opt to keep a job inside, but not for $20 hour.

Partly I get it, being a Cali native, it's gotten so expensive just to survive in Cali. I couldn't rent an 8x8 shed for under $1,000 a month. Let alone a house for $1,500-$2000 plus! Then you're taxed at every corner, 70 cents+ per gallon of gasoline is a tax. Utilities just to have service in your house now, has exploded by maybe 200%.....Water used to be $35 month just to have service, using none.

Then claiming every summer, there's drought, prices rise. My buddy I think now is paying over $100 a month just to have service, before using ANY. He NEVER uses his C/Air or gas heater, he does collect n chop firewood for the fireplace in the living room. Another reason I couldn't wait to retire and leave the US, I couldn't live on his property forever hahahaha.....And I was living off-grid in my 5th wheel, with propane, and generators...

Maybe Q4 of this new year, once the %%$&*&^ idiots in office are done and gone, things can begin to rebound for the people...MAGA